Buffet is buying shares of US companies - "part of the future of America at a very low price"

20.10.08 22:18
/INTERFAX-AFI, New York, October 18, 08/ - The famous financier Warren Buffett is buying shares of American companies, arguing that if the quotes on the stock market will remain attractive, his personal investments that are distinct from the shares in Berkshire Hathaway, will soon be entirely composed of shares of U.S. companies, reported Bloomberg News . Strategy W. Buffett is the principle - "afraid when the other greedy and be greedy when others are afraid." Exaggerated fears about the long-term prospects of many large companies are stupid, their bulk is likely to reveal record profits in the coming years, said W. Buffett. Despite the fact that short-term fluctuations of stock markets are unpredictable, it is likely that the market will recover before the economy will recover and investor confidence, he said. Referring to the period of depression in the American economy in the 30's, W. Buffett noted that the Dow Jones Industrial Index reached its minimum in July 1932. However, the economic situation continued to deteriorate until Franklin Roosevelt became the U.S. President in March 1933, but in July 1932 to March 1933 Dow Jones increased by 30%. The bad news, according to W. Buffett is the best friend of investors, because it allows them to buy "part of the future of America at a very low price". [2008-10-20]