Warren Buffett wants the world to know that it’s time to get greedy right now, as fear sends stock prices plunging across the globe.
Using the widely-read opinion pages of The New York Times, Buffett writes that he’s been buying U.S. stocks for his personal account, picking up a “slice of America’s future at a marked-down price.”
READ WARREN BUFFETT’S NEW YORK TIMES OPINION PIECE
Besides his Berkshire Hathaway shares, Buffett reveals that he used to own nothing but U.S. bonds. Now, he writes, “If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent” in American stocks. (Remember, he’s talking about his own holdings, not the billions of dollars of stock owned by Berkshire Hathaway itself.)
“A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors.”
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