10/17/2008

“Buy American”: op-ed from Warren Buffett about why now is the perfect time to be buying up stocks. Money quote (pun intended): “Today people who hold cash equivalents feel comfortable. They shouldn’t. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.”