Last year, all three major indexes touched bear territory. Though they've rebounded from their lows, the market environment remains tough. Interest rates are on the rise. Higher inflation continues to be a concern. And those elements weigh on companies' earnings prospects. All of this probably has you wondering if you really should buy stocks right now.

For advice, it's always a good idea to turn to one of the world's favorite investors, Warren Buffett. Why? He's led Berkshire Hathaway to a compounded annual gain of nearly 20% over the past 57 years. That's compared to the S&P 500's increase of 9.9%. Buffett has been through his share of market downturns and crashes, yet still has delivered excellent returns. So, he's sure to offer wise words...

First, a quick refresher on Buffett's investment strategy. He believes in buying quality stocks and holding on for the long term. He aims to snap up these companies for a price that's lower than their intrinsic value, or what they truly are worth. The idea is the market eventually will recognize the quality company's value -- and the stock should rise.

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Source Fool.com