Buffett: Time to Buy
Despite early losses, the market has taken an upward turn.
At 11:10, the Dow was up .06 percent, or 5.01, and Nasdaq was up .49 percent, or 8.53. The S&P was up .34 percent, or 3.2.
Trading volatility continues. And it's still early. But it looks like, at this point, markets may be on track for its first weekly gain in months.
And, in case you haven't heard, Warren Buffett, the Oracle of Omaha, has said he will soon be 100 percent invested in the U.S. stock market. This is the time to buy, he wrote in a New York Times Op-Ed this morning.
"Be fearful when others are greedy, and be greedy when others are fearful," he wrote.
"Over the long term, the stock market news will be good."
Only time will tell if investors adopt his bullish attitude, especially as consumer confidence hits record lows (see previous post).
--Kim Hart
By
Frank Ahrens
|
October 17, 2008; 11:26 AM ET
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Posted by: Anonymous | October 17, 2008 3:51 PM | Report abuse
''America was not built on fear. America was built on courage, on imagination and an unbeatable determination to do the job at hand.'' Harry
Posted by: Anonymous | October 18, 2008 5:09 AM | Report abuse
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I have a little metal investment. It says "FREEDOM FROM FEAR AND WANT FREEDOM OF SPEECH AND RELIGION". The price paid for that investment means the thing is priceless. It's tough all over and I'm done to the priceless stuff. I guess the new change is fear and greed, let's just freedom and religion and the rest. It looks like that whole plan is going to the bottom regions. We're not near the bottom of this thing yet. Hollywood and California are looking busty. The middle America is getting pinched in the west and pulled under in the east. The middle is looking like a punch to the gut. The whole thing is a bloody mess. It's so bad here they are expanding the morgue. The economy looks to be on course for a soft landing. One jolt can send stocks plunging so watch what you buy. The greedy person and pauper are just about one and the same.