Warren Buffett Quote: As Usual He Is Right
As Warren Buffett does his second bailout in as many weeks (this time of General Electric), I’m reminded of a Buffett quote I brought you last year.
How about this for eerily predictive?
I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.
If we are heading toward a second depression, maybe being greedy isn’t such a bad thing. What do you think?
Image source: Newscom.com
Tags: General Electric, Second Depression?, Warren BuffettRelated Stories
POSTED IN: Baby Boomer investors, Boomer Businesses in Difficult Financial Times, Second Depression?
2 opinions for Warren Buffett Quote: As Usual He Is Right
Razib Ahmed
Oct 3, 2008 at 4:24 am
If really the American economy is heading for a second depression then it will be a bad news for the global economy too. There is hardly any good news about the global economy. Well, stock markets in Asia and Europe are suffering a lot these days too. May be, we need more wisdom coming out from people like Warren Buffet.
Jean
Oct 5, 2008 at 11:08 am
Thanks for the comment Razib. Recessions and depressions are “Self-fulfilling prophecies.” When people are fearful they spend less, do things differently. I hope we don’t get into that fearful mindset, because that will get us to a depression faster.
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