If you are going to listen to anyone’s advice, who are you going to listen to – your neighbor, your all-knowing CPA, the headlines of the competing news media… or the most successful stock market investor of all time?
(#1 on 2008 Forbes List with a net worth of $62Billion)
What does Warren say?
“Now is the time to BUY American. I am”
In an op-ed piece in yesterday’s New York Times the Oracle reveals one of his most important investment maxims:
“Be fearful when others are greedy, and be greedy when others are fearful”
Warren acknowledges that the financial world, both domestically and abroad have been dealt a blow. What he is also saying is that the over exaggerated fear has created an opportunity to buy fundamentally and economically sound stocks at excellent prices – and that the American economy does have a bright future.
“I can’t predict the short-term movements of the stock market. I haven’t the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.”
Warren isn’t just beating his chest on this either – he is DOING what he is saying:
“If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.”
That is good enough for me. I don’t need to listen to the guy at the Post Office counter or the voices on my radio and TV set anymore. If I am going to heed anyone’s lead or advice – I am going with the guy that has a “B” (62 of them in fact) next to his financial statement.
NOW MORE THAN EVER… through the fog of all the negative, fearful and worrisome news and information that is saturating our environment, entrepreneurs and small business owners we need a positive beacon of light and hope – a resource people can turn to for inspiration, abundance thinking and to find out what’s RIGHT with the world.
SUCCESS is that light. Read What Achievers Read – read SUCCESS!
10 Responses
Troy
17/Oct/2008 1This is information we all know intutively, but it sure is a vote of confidence to know what the Oracle of Omaha is up to. Thanks for another excellent article Darren!!!
Dahlia Corella
17/Oct/2008 2I believe that Mr. Buffet is right on the money. The current economic climate is ripe for BUYERS. Now is the time to buy stock that has plummeted in value. Those, like Mr. Buffet, who recognize the opportunity stand to benefit greatly from the current economy. Yes, the American economy is basically sound and Mr. Buffet is correct in buying American.
tony ward
18/Oct/2008 3thank you darren..this is the soundest advice anyone can give.. and coming from you confirms it. please be sure i get every magazine.. i have missed a few copies, as my sub started a bit late.. do you have an affiliate payment..as I would like to sell the mag..i am a public speaker..I’ll praise it from the platform around the world..i am 76 years old, and partly thanks to succes mag i have only just started..love and regards from oxfor uk..the city of learning.. I am happy to buy back copies ie kyosaiky..
Lynn Burchard
18/Oct/2008 4Hi Darren,
I agree with this wise man Warren Buffet. There is way too much negative information out on the economy. I do not live in the US but in Canada. We are so closely tied to the US that every news report, financial report etc… talks about the US economy. There are too many opinions, too much speculation and some of the information we encounter is unfounded. Right now a lot of what we are experiencing is panic. Panic from consumers, investors, news media and the general population. People are scared and it shows.
The economy is like a roller coaster ride. It is a chain of continuous peaks and valleys, some are longer lasting and others are short lived. But what we must remember is that the ride does end at one point and everyone must get off the roller coaster. The excitement comes to an end and relief sets in.
Lynn Burchard
Jennifer Pearsall
18/Oct/2008 5What I Think of Today’s Financial Times?
My dad is almost 60 year old, he look at news and he say “It not worry me because it will happen again” In 1930s it have same problem as today. I guess they make mistake again! People who have bad debt, but they budget little better than Government. lol it true. I got that quote in justsell.com.
I would never listen to anyone’s advice who are not success or “wrong book”. There a story that i want to share with yall.
There woman drive her car to store. Somehow her car broke down, she saw 2 build that are near by, it was doctor’s office and other is auto dealership. She dont trust auto dealership so she walk to doctor’s office and ask doctor to help her to fix car. The End.
Point of this story, she got wrong person to ask “wrong information”. I prefer walk to auto dealership. Because they are right person to ask and also they do offer service that know how to fix the car.
People are listen to Media and any more that are wrong information.
The reason why Media do this, they want make money and to run the show! To that panic thing to make people freak out or fear on economy. Do you notice that Media sometime ask rich people that are “B” talk on TV show, WATCH their face…. they not cry or freak out or worst. They are clam and cool and happy to buy good stock, real estates, ect…
Media want find rich people who are panic… OHH they will love it. It will not work for Business Owner or Success person.
Warren Buffet are right, he say “Now is the time to BUY American. I am”. Buy American ~~ stock, real estates, ect..
How can you understand what Warren Buffet mean by that. Read Rich Dad and Poor Dad and Finance QI and other By: Robert Kiyosaki. You will start see it and understand what Warren Buffet say.
I love what Warren Buffet say “I don’t need to listen to the guy at the Post Office counter or the voices on my radio and TV set anymore. If I am going to heed anyone’s lead or advice – I am going with the guy that has a “B” (62 of them in fact) next to his financial statement.”
Again he was right…. just the one story that I just told you about woman with car that was broke down. I notice that he say he will listen with “B”. what “B”? it stand for Business Owner. Again if you read Rich Dad and Poor Dad book you will understand this.
I will lose my car anytime, but I dont panic at all.
Dont let media stop your dream.
Jennifer Pearsall
Ben
20/Oct/2008 6I think Warren gets the big picture that the media just won’t admit. Americans are resilient, we will get through this. The markets will soon recognize that the blue chips aren’t going away, and they are worth far more then the current sale prices today. However, what’s also important to understand is Warren understands that we could go down another 20% before going up 50-100%, he’s buying for the prices in 2015, not for November 2008. Alot of people misunderstand these wise, longer term investors into thinking we go nowhere but up from here, which is probably not the case……
Lori
21/Oct/2008 7The Oracle of Omaha is once again seizing the long term opportunity and “being greedy when everyone else is fearful.”
I live in Canada and my question to Mr. Buffet is, “When is the right time to buy Canadian blue chip equities, again?”
Diana Perez
28/Oct/2008 8I’ve learned the phrase, “Never listen to anyone more messed up that you are.” Learn from the best and why they are the best. Do your due dilligence and find out as many facts needed to persue your life’s ambitions. If you are amenable to the consequences, then there is little to no downside (risk).
BIG IDEAS - How to Make Big Money in Bad Times… and More! | Darren Hardy, Publisher of SUCCESS Magazine
18/Nov/2008 9[...] What Achievers Think of Today’s Financial Times - Observations from the Omaha Oracle [...]
BIG IDEAS - How to Make Big Money in Bad Times… and More! | SUCCESS magazine Blog
26/Mar/2009 10[...] What Achievers Think of Today’s Financial Times - Observations from the Omaha Oracle [...]
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