Posted on 02/24/2020 8:56:06 AM PST by DEPcom
Warren Buffett warns coronavirus will affect business, but he 'certainly won’t be selling' stocks
(Excerpt) Read more at finance.yahoo.com ...
I saw about 5 Warren Buffett investment stories this morning.
His quote: "Has the 10-year or 20-year outlook for American businesses changed in the last 24 hours or 48 hours?"
My Answer: Well Mr. Buffett I do not have 10 to 20 years to hope the market turns around. I do have money to loose for the next 10 to 20 years. I will stick to safe investments.
They interview him precisely because he’s well known and obviously has been successful at his game.
That said, I’m not sure what the people who are bailing on the market think they’re going to do as an alternative. Also, it’s an ill wind that blows nobody good: if one area flags, there will be other areas that will grow because of it. The key is to be knowledgeable.
That said, I don’t think the virus is going to be the end of the world. Its death rate seems to be about the same as an average bad yearly flu, although it does seem to be extremely contagious and thus might affect more people overall. I do suspect that some party is benefitting from hyping it and creating panic, but I’m not sure who or what.
Panic hits the herd and they turn mindless. knee jerk reactions are pretty much always wrong.
I also think it was dumb of Trump to tout the markets. Markets are irrational and succumb more to outlook than reality, and have very little to do with the underlying economy. Otherwise we should see Bill Clinton as the best POTUS ever, where the market shot up like nothing since.
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