Wow! The New York Times hit a home run today with this editorial column from Warren Buffett. So, for all of you guys who are feeling scared and wondering what to do with the economy in the toilet right now, you might want to listen to one of the richest men ever to walk the planet.
Buy American. I Am.
By WARREN E. BUFFETT
THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.
So … I’ve been buying American stocks. This is my personal account I’m talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.
Why?
