Warren Buffett's Reassuring Words On the Future...
As the stock market's wild moves downward have average Americans worried about their financial futures and looking for leadership, it's important to keep Warren Buffett's reassuring words about the long-run in mind.
Here's what he said live on CNBC just a few weeks ago:
"You know, five years from now, ten years from now, we'll look back on this period and we'll see that you could have made some extraordinary (stock market) buys. That doesn't mean it won't get more extraordinary a week or a month from now. I have no idea what the stock market is going to do next month or six months from now. I do know that the American economy, over a period of time, will do very well, and people who own a piece of it will do well.
"Just don't borrow money to buy your piece.
Three Buffett-style tips for dealing with Wall Street's ongoing turmoil.
1. "Cash combined with courage in a crisis is priceless"
2. "Dont invest in things you don't understand"
3. "Don't try to catch a falling knife until you have a handle on the risk"