October 17, 2008

The Oracle has spoken

You know, when I hand out investment advice, I'm really not very surprised when people ignore me.

But I did think that when Warren Buffet handed out investment advice, people would pay attention.

In today's New York Times, Buffet writes, "Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky’s advice: 'I skate to where the puck is going to be, not to where it has been.'"

The man is a genius. Pay attention.

1 comment:

  1. Buffet is reiterating what I've been hearing from every reputable source: things are not as bad as they look, short term issues even themselves out, everyone take a deep breath.