The following is an excerpt from an enewsletter from Bob Veres, editor of Inside Information. “Warren Buffett, the head of Berkshire Hathaway and the second richest man in the world, has taken on iconic stature in our society. He plays the wise old grandfather whose advice is always right–sooner or later. I’ve invested in his company for over a decade and always take what he says to heart. He was interviewed recently by Charlie Rose and it’s worth listening to: click here.
He has a very rational take on the current situation. My take away is this: Buffett has great confidence in the long-term health of the American economy. He has sat on $40 billion in cash for years waiting for the right buying opportunity, and is now putting that money to work.
If Buffett is a buyer, then I am not a seller.”