Buy American?...Now More Than Ever!
October 13 2013
I began watching Ford's stock before all of this downward spiraling hullabaloo. I saw it as it dipped below five dollars and I said, "Almost time to buy." On Friday it dipped below $2.00. If I had any doubts about picking up this stock at such a bargain, I was inspired by a recent article written by Warren Buffet in "The New York Times."
The title of his article was "Buy American. I Am." I've been thinking more and more about the importance of buying not just American stocks, but American products as well. If I'm facing facts, American automakers haven't given us too many great products the past couple of decades, and foreign automakers have rightfully blown past us. That's all likely going to change and change soon. Ford has three new electric cars on the horizon, and Chevy has the Volt due out in 2010, which I blogged
about recently. One of the things that Buffet reminded us of in his article was his famously coined phrase (which makes a ton of sense right now),
Buffet says: "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful." While Buffet tells us that he cannot predict what the market will do in the short term - and of course, if he can't you know I can't. He feels that in the next 5 to 10 to 20 years you will see most companies setting new profit records. And while my opinions are my own and any suggestions I make should not lead anyone to make any financial decisions, I like what opportunities are out there for us to seize. I'll leave you with one more Buffetism:
"I'll follow the lead of a restaurant that opened in an empty bank building and then advertised: "Put your mouth where your money was." Today my money and my mouth both say equities."