Can you see the light? Buffet can.
Although measures of investor confidence are up from their December 2008 low, the dizzy American market still teeters on fear. And it’s no wonder. With a full basket of financial woes and dominoes still toppling around the world, the economic prophets declare the Great Recession will persist through the rest of 2009.
That’s something to think about.
But while craven investors hide in the hills, keeping their money in cash equivalent safe havens and awaiting good news, the oh-so debonair valiant-investor is charging back in, knowing that if one waits for the robins the spring will be over.
Consider oracle-investor Warren Buffet’s tremendous success, a mastery of the counter correlation between fear and greed. Sitting atop his billions, Buffet passionately cajoles, “Be fearful when others are greedy, and greedy when others are fearful.”
In short, now is the time to conquer fear, and overcome the ugly temptation to let risk aversion profit a zero. Fortune favors the bold after all, like Andrew Carnegie and John D. Rockefeller, who capitalized on the panic of 1873, bought at fire-sale prices and built an empire.
History shows moreover, that while fear still resonates through investors’ weary souls, this great nation will endure as it has endured (albeit with a few hiccups) and market news will be good over time.
So go bravely forth upon the old adage, “buy low sell high,” make like Buffet, think for the long run, and invest for the future of our economy… and yours.