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Buy American. I am. – NY Times Article by Warren Buffett

This article is well worth reading. Mr. Buffett has a great line – “Be fearful when others are greedy, and be greedy when others are fearful.” Now, more than ever, investors are fearful and so one can argue that this may well be one of the best times to buy!

Here is an excerpt of the article:

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.

Read the full article here

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