Buffet says "Time to buy US Stocks"

...and puts his money where his mouth is. What do you think? He's even taking his personal savings out and moving it into US Equities. At your request I can put up an Excel file I have tracking Buffet's holdings, please leave me a comment / e-mail address I can send it out to you.

We're seeing what the pop media is saying a stabilizing of the credit markets. I have my doubts, but it's a great time to get back in on gold juniors... so many are making money but are still seeing their stock price tumble as if they were announcing billion dollar write downs like Merrill Lynch and CitiGroup!

NovaGold (NG.to), joint partner with our well-connected junior miner TNR up in Alaska made income of $16+ million last quarter goes down 20% on announcement of this news yesterday. Incredible, isn't it?

Warren Buffett: Time to buy U.S. stocks
‘Be greedy when others are fearful,’ investor writes in article

Video
Buffett: Time to buy U.S. stocks
Oct. 17: Warren Buffett said Friday that now’s the right time to buy U.S. stocks. Is he right? A panel of experts on CNBC tackles the question.

updated 21 minutes ago

NEW YORK - Warren Buffett has been moving his personal investments from safe Treasuries into U.S. stocks, according to an opinion piece he wrote in Friday’s New York Times.

“If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities,” the legendary investor wrote.

The piece, titled “Buy American. I am,” reiterated one of the legendary investor’s favorite maxims: Be fearful when others are greedy; be greedy when others are fearful.
Story continues below ↓advertisement

“Most certainly, fear is now widespread, gripping even seasoned investors,” he added.

“To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions,” Buffett said. “But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.”

Since stocks began to tumble in September, Buffett, and his investment company, Berkshire Hathaway Inc., have made large bets on U.S. companies, exacting rich dividend payments in the process.

Berkshire Hathaway agreed on Oct. 1 to invest $3 billion in General Electric Co.’s preferred shares, which carry a hefty 10-percent dividend. In late September, Berkshire Hathaway also bought $5 billion in preferred shares of Goldman Sachs Group Inc., which also pay a 10 percent dividend. He also bought warrants to purchase another $5 billion common shares at about $115 each.

“Let me be clear on one point: I can’t predict the short-term movements of the stock market,” he wrote. “I haven’t the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.”