Here's How the Buffett-Style Investor Should Read the Upcoming Earnings Season
In his annual letter to shareholders as chairman of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), Warren Buffett made some poignant observations. He wrote, "Whatever the downsides may be, strong and immediate action by government was essential ... like it or not, the inhabitants of Wall Street, Main Street and the various Side Streets of America were all in the same boat." Buffett went on to remind people that America has had its share of challenges and has overcome them all.
But Buffett didn't write this in the letter he just put out this year. He wrote those words 11 years ago. Buffett also wrote, "We're certain, for example, that the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond -- but that conclusion does not tell us whether the stock market will rise or fall."
These words, and his perspective, seem apropos for today. Things changed so quickly, and the country's economy and citizens need fiscal and economic stimulus. And the outlook going forward is very uncertain.
Source Fool.com
