02-24-2020, 02:58 PM
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#10158
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I contribute to threads in the offtopic forum
Join Date: Jun 2013
Location: Burnaby
Posts: 2,626
Thanked 3,085 Times in 838 Posts
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https://ca.finance.yahoo.com/news/wa...120743935.html
Quote:
Warren Buffett warns coronavirus will affect business, but he 'certainly won’t be selling' stocks
Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK-A, BRK-B), says the stock market rout we’re witnessing today is “good for us.”
“We’re a net buyer of stocks over time,” he said on CNBC. “Most people are savers, they should want the market to go down. They should want to buy at a lower price.”
Buffett’s comments came as Dow futures (YM=F) were down by about 800 points or 3%. Stocks around the world plunged on Monday as the coronavirus outbreak escalated, exacerbating fears that the global economy would seize up.
Regarding the coronavirus specifically, Buffett made clear that he is “not a specialist.” And he warned that “a very significant percentage of our businesses one way are affected.”
However, he reiterated that investors should be more focused on the long-term, not the short-term.
"If you're buying a business, and that's what stocks are... you're gonna own it for 10 or 20 years,” he said. “The real question is: ‘Has the 10-year or 20-year outlook for American businesses changed in the last 24 hours or 48 hours?’"
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