Warren Buffett has very publicly proclaimed that now is the time to be "greedy" and buy U.S. stocks, because everyone else is fearful, and those fears are driving down stock prices to bargain levels.
While we've heard praise for his leadership and courage, there are also skeptics.
On MarketWatch.com, David Weidner says investors need to be "careful" about following Buffett's advice to buy U.S. stocks.
Along with billions in special preferred shares, Berkshire also received warrants allowing it to buy common shares in the two companies at prices that were below the market at the time of the deals.
"The problem for Buffett is that his warrants were becoming worthless as GE and Goldman stock fell. One cheap, easy way for Buffett to reverse his losses is by penning an editorial using his huge sway, folksy style, and hints of patriotism to stir up some buying."
Weidner agrees with Buffett famous line, "Be fearful when others are greedy, and be greedy when others are fearful." But in his interpretation, it's Buffett who is among the "others" driving "very greedy sweetheart deals," leaving the rest of us to be fearful.
On Seeking Alpha, Devin Hobbes is not as cynical, but does question Buffett's timing, saying he likes to be early. In his Times piece, Buffett cited hockey great Wayne Gretzky's advice to "skate to where the puck is going to be, not where it has been."