Those are the words of the master himself, Warren Buffet. He shared a few more tidbits of wisdom in a recent interview:
…What is likely… is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up… if you wait for the robins, spring will be over… …But fears regarding the long-term prosperity of the nation’s many sound companies make no sense…they ‘will be setting new profit records five, 10 and 20 years from now…
Here is the full story at Reuters.
It is good to hear the Warren repeating the sound fundamental advice in a time when so many Americans are gambling away their wealth due to fear.
One of my finance professors once gave made the following point during one of his lectures: “Most investors who get in trouble in the market get into trouble because the buy alot when the market is high and sell when it is low.”