“You want to be greedy when others feel fearful,
you want to be fearful when others feel greedy!”
Some of the main points from this video:
“It’s like a great athlete that’s had a cardiac arrest.” That’s Buffett’s view of the U.S. economy right now …
“An economic Pearl Harbor”. In Buffett’s view, that was what the last month or so on Wall Street had meant for the country. “In my adult lifetime, I don’t think I’ve ever seen people as fearful economically as they are right now.” …
Will taxpayers get their money back? “I would bet on it.” Buffett feels that the Treasury Department’s plan to purchase hundreds of billions of mortgage-related assets will turn a profit given that they will buy them at market, and also “because the United States government has staying power and it has a low cost of borrowing.” …
“Financial weapons of mass destruction.” Buffett is no fan of derivatives. “They destroyed AIG. They certainly contributed to the destruction of Bear Stearns and Lehman.” …
The “choice” America is making. In Buffett’s assessment, the U.S. is “to some extent, making a choice between future inflation and getting off the floor. And we’re likely to have more inflation in the future as a consequence of the things we do to fight the present situation.”…
“You want to be greedy when others are fearful.” Personally, Buffett sees many attractive opportunities right now … (I agree on this one!)
“Oh, I think confidence will come back.” When Rose asked him what might “never be the same” about Wall Street or the American economy, Buffett replied optimistically. “We’ve got all the ingredients for a sensational future …
This is the latest interview of Warren Buffet by Charlie Rose on the current global financial crisis and how each individual should handle it. Warren also shared some valuable insights on investment, recession matters, credit market, unemployment and also he give advices on how each individual should handle the crisis. There are lot of great information and finance knowledge, so listen it,
If I were to summarize this, he is just saying don’t panic.
Listen to the almost 1 hour interview and be the judge yourself. Sure, there are a few points that I disagree with them but Warren Buffett is definitely one of the investor that I listen to closely. I for one believe in don’t panic. Try to see what you can do about it instead.
http://video.google.com/videoplay?docid=4537231419795681197
To Your Success,
Keith Choy
Related links:
The Essays Of Warren Buffett - Lessons For Corporate America
Trade Like Warren Buffett
Invest In Strong Businesses For Long Term From Warren Buffet View
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