Excellent advice from Warren Buffett in this CNNMoney story: He’s buying stocks right now. “A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful,” he notes.
Everyone is panicking about the fall of the stock market, and few want to invest money in it when it’s fallen so much.
When others zig, it doesn’t hurt to zag.
Those with a long-term outlook should be looking at the market with glee: there probably won’t be another time in our life when stocks are available at such a rich discount. The stock market always bounces back over the long run, and usually well before the rest of the economy comes back.