Why Warren Buffett Just Hit the Eject Button on Consumer Stocks
Filed under: Investing, Berkshire Hathaway
On Sept. 16, 2009, Warren Buffett declared the Great Recession officially over. But is it still over?
In an interview on CNBC back then, the world’s most famous super-investor argued that because the economy had “plateaued at the bottom” and could only go up from there, he was once again buying stocks — and “getting a lot for [his] money.” Obediently, the Dow Jones Industrial Average then proceeded to climb 36% over the next three years.
Unfortunately, times change, economies wane … and…
Why Warren Buffett Just Hit the Eject Button on Consumer Stocks originally appeared on DailyFinance.com on 2012-08-09T15:05:00Z.
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