As I mentioned about a month ago (also known as “the good old days”) I tend to trust more what billionaires do with their money than what the trusted members of the golden blogosphere do with their spare time in government jobs.
So I was happy today to see Mr. Buffet going public and telling people that he is buying stocks. He actually started this sometime ago and this is public knowledge but sometimes people need things in their face to get the point.
Of course Buffet makes sure to say this is all about long term. But my main problem with all the Cassandras of the world has always been the scope and severity of what they call crisis. When you say the world is about to end, that is pretty long term to me. In the short term the market will remain unstable for a while, and that is just part of the game.
Apparently the doomsayers need to find another cause to adopt. The end of the world pretty much ended this week.