‘That’s good for us,’ Buffett says of dropping stocks
As stock futures dropped before Monday’s opening bell, Buffett said “that’s good for us.” “We’re a net buyer of stocks over time,” he said. “Most people are savers, they should want the market to go down. They should want to buy at a lower price.”
Buffett said not to make investing decisions based on day-to-day moves. “You don’t buy or sell your business based on today’s headlines. If it gives you a chance to buy something you like and you can buy it even cheaper, you’re in good luck,” he said, adding that “you can’t predict the market by reading the daily newspaper.”
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett