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Warren Buffett Disagrees With 32% of Americans About
Investing in a Downturn
May 16,
2023
By
Heather Taylor
Do you invest
your money during an economic downturn? In GOBankingRates’ Top
Money Experts 2023 survey polling 1,045 Americans, 32% of respondents
said they don’t invest.
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How does this break down across various age ranges? Of those ages 55
to 64, 44% said they do not invest in a downturn. Neither do 39% of
respondents ages 45 to 54. And 37% of women said they wouldn’t invest
in an economic downturn — a significantly higher percentage than men
(26%).
In a recession, legendary
investor and businessman Warren Buffett has a different investing
approach. Here’s why he disagrees with 32% of Americans.
How Does Warren Buffett Invest In a Downturn?
In October 2008, The New York Times published an op-ed written by
Buffett titled “Buy
American. I Am.” As the world was experiencing a global financial
crisis, Buffett said he was buying American stocks through his
personal account.
“A simple rule dictates my buying: Be fearful when others are greedy,
and be greedy when others are fearful,” Buffett wrote.
I’m a Self-Made Millionaire: These
Are Investments Everyone Should Avoid During an Economic Downturn
Why Should You Buy Stocks and Invest When There’s Fear?
While 31% of Americans surveyed by GOBankingRates would not invest in
a shaky economic climate, Buffett argued there is savvy found in
investing during times when fear is widespread. At the time, Buffett
said he couldn’t predict short-term stock market movements, but it was
likely the market would move higher before the economy or sentiment
turned up.
Stock market news, Buffett said, will be good over the long term. But
when it’s not? This is the time to buy rather than wait until there’s
a more optimistic outlook or worse, sell stocks after reading or
hearing about upsetting headlines.
“Bad news is an investor’s best friend,” Buffett wrote. “It lets you
buy a slice of America’s future at a marked-down price.”
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