As for the people who now feel "comfortable" holding cash and waiting for good news: "They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value."
In the piece, Buffett doesn't name any specific stock or stocks that he's been buying.
Earlier this month, however, Buffett did reveal in a live interview on CNBCthat he couldn't resist buying some shares of Wells Fargo for his personal account when they dipped into the low 20s during the summer. In that conversation, however, he made it sound like buying Wells was more of an exception to the rule than the start of a stock-buying trend.
Current Wells Fargo price:
It's no secret that Buffett remains optimistic about America's long-term financial future and thinks "people who own a piece of it will do well." (See the recent WBW post Warren Buffett's Reassuring Words On the Future.)
It is, however, unusual for Buffett to make such an emphatic public declaration that the time to buy is now. He never likes to "opine" on the stock market.
These must indeed be extraordinary times for him to say to the world that he's putting his own money where his mouth is right now, by purchasing his own pieces of America's future prosperity.
Current Berkshire stock prices:
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