Monday, April 21, 2008
Fortune: What Warren thinks...
From an interview with Warren Buffet in Fortune Magazine: What Warren thinks...
Q: Are we a long way from turning a corner?
Buffett: "I think so. I mean, it seems everybody says it'll be short and shallow, but it looks like it's just the opposite. You know, deleveraging by its nature takes a lot of time, a lot of pain. And the consequences kind of roll through in different ways. Now, I don't invest a dime based on macro forecasts, so I don't think people should sell stocks because of that. I also don't think they should buy stocks because of that."
Charts tell the story:
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