Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
More Quotes from Warren Buffett:We're still in a recession. We're not gonna be out of it for a while, but we will get out.
You only have to do a very few things right in your life so long as you don't do too many things wrong.
Wide diversification is only required when investors do not understand what they are doing.
I buy expensive suits. They just look cheap on me.
Time is the friend of the wonderful company, the enemy of the mediocre.
We always live in an uncertain world. What is certain is that the United States will go forward over time.
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Those we dislike can do nothing to please us.
The fact that an opinion has been widely held is no evidence whatever that it is not utterly absurd.
If I don't know I don't know, I think I know. If I don't know I know I know, I think I don't know.
R. D. Laing