Warren Buffett Pens NY Times Article 'Buy American, I Am'

In an op-ed piece in the New York Times, Warren Buffett pens a piece "Buy American, I Am." Buffett said the financial world is a mess and problems are leaking into the general economy and the headlines will continue to be scary, but he said he buying American stocks.

From 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.

Why?

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

Link to Article

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