Warren Buffett to CNBC: Invest in Stocks Even At Dow 9000
- Or like I said, the most important message you can deliver to a young person is that anything you invest in yourself, you get back ten-fold. And nobody can tax it away, they can't steal it from you.
- I really thought that if they were going to be investing over the longer term, equities were going to do way better than cash investments.
- I would have been very surprised if five years from when I wrote that article that stocks hadn't vastly outperformed cash investments.
- I said if you wait until you see robins, spring will be over. You can't wait for business to turn up and be very clear about the fact it's turned up. You'll probably only figure it out three or four months later anway. But the market is very, very likely to turn up before business. But I don't try and time stocks. I try to price stocks and stocks were a decent value when I wrote that article.
- People who think they can pick the market day-by-day are probably making a mistake.
- I would much rather own equities at 9000 on the Dow than have a long investment in government bonds or a continuously rolling investment in short-term money. Now, again, I don't know where it's going to go next week or next month.
- (Inflation is) On the rise. Very simple answer. But it isn't because it's going to happen next week or next month or ten months from now. But ten years from now the dollar will buy a lot less than it buys now.