The Oracle of Omaha’s on the American Economy
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When markets are tumbling, people usually turns to Oracles. Some will be optimistic, some will be pessimistic, and Warren Buffett will be down to earth. His “Oracle of Omaha’s” nickname comes from his long term success, witty comments and letters, and he lives in Omaha Nebraska.
Mr Buffet gave us another golden nugget of wisdom in a recent Fortune Magazine article What Warren thinks….
The American economy is going to do fine. But it won’t do fine every year and every week and every month. I mean, if you don’t believe that, forget about buying stocks anyway. But it stands to reason. I mean, we get more productive every year, you know. It’s a positive-sum game, long term. And the only way an investor can get killed is by high fees or by trying to outsmart the market.
