“The financial world is a mess, both in the US 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. Why? A simple
rule dictates my buying: Be fearful when others are greedy and be greedy when others are fearful. . . . most major
companies will be setting new profit records 5, 10 and 20 years from now. Buy American. I am.”
Sincerely, Warren Buffet
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