Warren Buffett: “Fear is Contagious”

This morning on CNBC, Warren Buffett was interviewed for 3 hours.  If you are an investor of any sort, you need to listen to this interview.  I thought I would post a couple of quotes from that interview this morning.  I was left in awe of the knowledge that Mr. Buffett has. 

 

 

Fear is contagious

 

You get fearful fast but confident slowly.

 

The more money you have out, the less it’s worth

 

The whole world is leveraging down

 

In Economics there is no free lunch

 

FDIC- 3600 Banks helped at the cost of nothing to the tax payer.

 

Must have confidence in the banking system.

 

The U.S. has the greatest economic machine that man has ever created. 

 

The machine gets gummed up from time to time

 

The normal things that go on in Washington are inappropriate in the current economic situation

 

The economy was close to collapse during one week in September

 

We are in a state of war in our economy and we must look to our commander in chief just as we have in actual wars.

 

We need banks to get back to banking and not trying to make money using these whacky assets.

 

We can’t depend on anybody

 

Stocks will be worth more over time.

 

The best asset you can have is your own abilities

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