Warren Buffett Writes A Great Op-Ed

Warren Buffett, someone who I greatly admire, and even have a YouTube video link to (on the right hand bottom), just wrote a great Opinion article in the New York Times yesterday, found in today's paper. In majority, I do agree with his views, although I have some doubts as to buying wholly American. He has often said that he buys into companies that he can understand, not thing like technology stocks.

There were some great classic quotes from Buffett that I'm definitely trying to internalize and hope the U.S. will as well:

-A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful

-In short, bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price.

-Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.
and the simplest key takeaway:-Today my money and my mouth both say equities.

To say I have stars in my eyes when he speaks is an understatement. There's a reason why he's worth billions and beats the markets consistently. He doesn't get swayed by the fear and negative consumer sentiment. Another principle of economics, the herd mentality, can be a bad thing. Until we see doom and gloom as if hell is on earth, I'll be continuing my buying strategy.