Relevant quote from Warren Buffet

by phil on Monday Oct 6, 2008 2:27 AM

I just transferred a sizable portion of my savings back into the stock market today. What summoned me to do this was a reminder of this quote from Warren Buffet: "Be fearful when others are greedy and greedy when others are fearful." Buffet recently snapped up shares from GE at an incredible bargain. We'll see.

Update: Warren reiterated what I said about a week and a half later.

Comments

Peter Cooper said on October 6, 2008 10:23 AM:

It's definitely good advice, but it depends on whether you think we're anywhere near the bottom yet or not. I think a Dow 8000 is probably a realistic bottom and that'll be the time to buy hard - we need to see some more shocks and bankruptcies first before things settle.