10-18-2008, 09:47 AM | #1 (permalink) | |
Tilted Cat Head
Administrator
Location: Manhattan, NY
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Warren Buffett suggests Buy American.
Quote:
I unfortunatly don't have the funds at the moment, as I made my play earlier this year by buying a foreclosed house in a distressed market. I'm still not sure it was the right move to make, but having faith in the marketplace, it is going to recover. The only issue is that I have to keep covering the mortgage payments, where had I bought Ford shares at $2.50 last week with the same money, any movement would be a win and a finite outlay. My 401k is maxed at the moment for contributions. It's the best time to do so as I'll be buying at the lowest levels in years so I'm getting the maximum of my contribution. But Mr. Buffett's words are the way the I see the world, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful." I didn't go with the dot coms, nor the Enron, Tyco, Worldcom, etc. I didn't contribute to giving my money away to someone else. Sure, people supposedly made lots, but they also lost lots. I don't know many that cashed out and made a windfall from those stocks, save those that had options within the companies. I just don't have the funds to do so, I'd like to, but I've got some other things happening like Skogafoss taking a package at work and will no longer be employed at the end of the year. I'd like to keep my cash savings available in case the economy stagnates further, and we need the access. Are you going to take some savings and buy American?
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10-18-2008, 09:58 AM | #2 (permalink) |
Broken Arrow
Location: US
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I already did over a week ago
I put 1600.00 into the market. I did buy in one non-american minerals company though. If they go back to a reasonable price (I don't aim high, just reasonable) when the market bounces back, I'll have made 2200.00 on that alone. It's not much, but it's a start!
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We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. -Winston Churchill |
10-19-2008, 09:02 AM | #3 (permalink) |
Deliberately unfocused
Location: Amazon.com and CDBaby
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My 401k is totally invested in American Funds. Always has been. Sure, I've taken a hit, but I'll let it ride. There's plenty of time for a recovery before I plan on cashing in.
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"Regret can be a harder pill to swallow than failure .With failure you at least know you gave it a chance..." David Howard |
10-19-2008, 06:59 PM | #4 (permalink) |
It's a girly girl!
Location: OH, USA
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I don't have any American funds in my 401K, but that's because I don't have one yet. Likely won't every buy American funds though, I'll stick to something a bit safer in Europe.
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"There's someone out there for everyone - even if you need a pickaxe, a compass, and night goggles to find them." |
Tags |
american, buffett, buy, suggests, warren |
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