The stock market tumbled into correction territory this week, spurring fear among investors that more turmoil is ahead. But if you are a disciple of Warren Buffett, a 10% drawdown for the equity benchmark shouldn't matter. The S & P 500 is in the middle of a third straight down month, sliding 10% from its peak in July to meet the traditional definition of a correction.
"Anytime stocks go down as far as I'm concerned, I like it because I'm a net buyer of stocks," he said. "I've been buying stocks ever since I was 11 years old. So when stocks go down, it's good news. Just like when hamburgers go down, it's good news or Coca-Cola." The country will grow in value over time Buffett's conglomerate Berkshire owns a vast array of well-established businesses, ranging from Geico insurance to BNSF Railway.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »