Staying on our “guys who got this trend right” theme – Warren Buffett has been standing on the sidelines holding a war chest of cash over the past few years.
Buffett writes in a New York Times op-ed that he is now deploying his cash hoard into US stocks.
“Fears regarding the long-term prosperity of the nation’s many sound companies make no sense,” wrote Buffett. “Most major companies will be setting new profit records 5, 10 and 20 years from now.”
“Bad news is an investor’s best friend,” Buffett said. “It lets you buy a slice of America’s future at a marked-down price.”
Buffett joins Dallas Mavericks owner Mark Cuban in the “going long” stocks club.