Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime

[rmitz]

http://www.cnbc.com/id/26982338/

At this point I think the economic consequences might be unavoidable, with or without any sort of emergency plan. It is the people's attitudes which needed the most help, and that's not going to happen now, without time.

Comments

[angelbob]

On the plus side, I no longer feel any temptation to sell my GE stock, since he just put $3 billion into it. I'm starting to feel semi-competent about investing, but I'm not going to bet against Warren Buffett, either :-)

[rmitz]

I would feel no need whatsoever to sell stock, if you aren't leveraged and feel comfortable that your companies will not go bankrupt from the economic shocks.

I wouldn't sell GE either. :)

[angelbob]

The main reason I see to sell stock is that things have just taken a nasty hit that will (eventually) go away. So stocks that aren't as hard-hit like Exxon are good ones to sell and put the money into stocks that have been hit hard, but will recover (JPMorgan-Chase? alternative energy? GE? insurers who will take AIG's place and/or AIG itself?).

[rmitz]

Yeah, I already sold those. That would be a reasonable thing to do, yeah.