This is an article written by Warren Buffett for Forbes in 1979. More than 30 years later, as we read it again, we learned something new again.
A second argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit? You know the prose: "Maintain buying reserves until current uncertainties are resolved," etc. Before reaching for that crutch, face up to two unpleasant facts: The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.
Read the complete article:
More Articles Written By Warren Buffett
A second argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit? You know the prose: "Maintain buying reserves until current uncertainties are resolved," etc. Before reaching for that crutch, face up to two unpleasant facts: The future is never clear; you pay a very high price in the stock market for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.
Read the complete article:
More Articles Written By Warren Buffett
- Buy American. I Am. Oct. 16, 2008
- "America’s Growing Trade Deficit Is Selling the Nation Out From Under Us. Here’s a Way to Fix the Problem—And We Need to Do It Now." Nov. 10, 2003
- "Warren Buffett On The Stock Market" Dec. 6, 2001
- "Mr. Buffett on the Stock Market" - Dec. 22, 1999
- You Pay A Very High Price In The Stock Market For A Cheery Consensus - Aug. 6, 1979
