S&P 500 Bear Market: Warren Buffett's 2008 Advice Still Holds True
It's not an easy time to be an investor right now. Stock prices have plummeted over the last six months, and many Americans are worried that a recession could be looming. Nobody knows when the market will bottom out or how long it might take to recover, which only adds to many investors' concerns.
Sometimes, though, looking back on previous downturns can make it easier to get through the current one. Back in 2008, at the height of the Great Recession, Warren Buffett wrote an opinion piece for The New York Times. His advice is just as relevant today, and it could help make this downturn more bearable.
It may seem counterintuitive to invest when stock prices are at their lowest. But Buffett has long encouraged investors to buy during downturns to take advantage of the inevitable upswing. In the 2008 New York Times piece, he said, "In short, bad news is an investor's best friend. It lets you buy a slice of America's future at a marked-down price."
Source Fool.com
