“If stocks are cheaper, you’ll be more likely to buy them”the investor said in an interview for CNBC at the time, as compiled by Business Insider regarding what he would do with the decline in share value.
“You’re going to invest your money in something over time. The only thing you can be sure of is that if we get into a major war, the value of money will go down.”assured.
Along the same lines, he considered that this process occurred during “all wars”, so “the last thing” that should be done is to keep the money during a war.
On the other hand, he specifically referred to the value of US companies in times of conflict. In this way, he considered that “American companies are going to be worth more money. The dollars are going to be worth less, so that money is not going to buy as much.”
Looking to the future and over the next few decades, Buffet highlighted this last concept and emphasized that it is a better idea to “own productive assets” than “pieces of paper or bitcoins”.}
On the first investment of the CEO of Berkshire Hathaway at the age of eleven, he placed $115 in three Cities Service actions. “You didn’t have to pick a winning stock. You didn’t have to pick a winning moment or anything like that. Basically, you just had to make an investment decision in your life.”
This is how he relied on the economic progress of the North American country: “I was convinced of this in World War II, during the Cuban Missile Crisis, 9/11 and in the financial crisis.”
Source: Ambito
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