Words of Wisdom From a Legendary InvestorMonday, September 29th, 2008 by Cass Chappell, CFP®
As much as I would like to come up with witty things to say or profound ideas about investing that are fresh and inspirational, sometimes you just have to “borrow” it from the best….I love this picture….Dairy Queen is way underrated, in my opinion.
Warren Buffett on CNBC, Wednesday September 24th:
“In the short-run the stock market is a voting machine, in the long-run it’s a weighing machine. As a voting machine, it responds to people’s emotions. There’s no literacy test for voting. You vote according to how much money you have, not according to how smart you (are.) So the stock market does some very silly things in the short-run. Over the long-run, it behaves quite rationally. And, 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 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”