Warren Buffett says that distressed assets are a great investment in an interview with Charlie Rose. He talks about Mortgage-Backed Securities, the government bailout. He says if you buy distressed assets at distressed prices, you will make money. He also mentions his confidence in the US economy over time, and closes with his classic quote: “You want to be greedy when others are fearful, you want to be fearful when others are greedy.”
RUDY
Comments
He’s great! He didn’t become the richest man in the world by being wrong about his investments, I’ll tell you that much.
I think he’s right too. People talk about what trouble the economy is in, but you don’t hear as much about how this is the time when incredible fortunes are going to be made because so many investments are undervalued. If you believe in value- getting more for your buck- then you’d better believe in the bargains that are out there now!
“Be greedy when others are fearful…”
