Warren Buffett. In October 2008 he wrote an article for the New York Times encouraging people to buy US stocks while they were on sale, even though the financial world was “a mess” and the “headlines will continue to be scary.” He wrote: “Think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor’s best friend. It lets
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