10.08.2022
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“Fear is an investor’s best friend” and more panic quotes from Buffett By Investing.com

Legendary investor Warren Buffett has always urged investors not to give in to fear during times of market turmoil and instead look for great deals, as periods of worry and uncertainty can also provide a fantastic opportunity to land a great deal, writes Business Insider.

The legendary oracle of Omaha, CEO of Berkshire Hathaway (NYSE:BRKb) also warned that investors who feverishly sell their assets risk huge losses, while those who sit back and hold blue-chip stocks , a solid profit in the long run is practically guaranteed. Here are 7 of his best panic quotes.

1. “Usually we made our best buys when fears about some macro event were already at their peak. Fear is the enemy of the fanatic, but the friend of the fundamentalist.

2. “We have invested a lot of money during the chaos of the last 2 years. It was an ideal period for investors: the atmosphere of fear is their best friend. Those who invest only when commentators are optimistic end up paying a heavy price for meaningless assurances.”

3. “During such scary times, you should never forget about 2 things: first, general fear is your friend as an investor, because it promotes bargains. Second, personal fear is your enemy. It may also be unfounded. However, those investors who avoid large and unnecessary expenses and simply hold shares of large, conservative American enterprises for a long period of time will almost certainly do well.

4. “Crashes and other extreme market fluctuations cannot harm an investor more than his unbalanced and talkative neighbor. Yes, fluctuations in the market can be beneficial for a real investor if he has free money when prices go far beyond the real value. A climate of fear is your friend when investing, euphoria is your enemy.”

5. “Although the market is generally rational, sometimes crazy things happen there. Taking advantage of new opportunities doesn’t require a great deal of intelligence, a degree in economics, or knowledge of Wall Street jargon, but simply ignore the fear or enthusiasm of the crowd and focus on a few simple fundamentals. The willingness to look less than perfect for an extended period of time or even look stupid is also important.”

6. “Some are more afraid than others. Fear is like a virus – it affects some people much more than others. Some can handle it psychologically. If you’re not one of them, then you really shouldn’t own shares because you’ll be buying and selling them at the wrong time.”

7. “Random outbreaks of 2 highly contagious diseases – fear and greed – will always occur in the investment community. Their timing is unpredictable, as are the market effects they cause in terms of duration and extent. Therefore, we never try to anticipate the appearance or disappearance of any disease, our goal is more modest: we try to be afraid when others are greedy, and be greedy when others are afraid.

— Materials from Business Insider were used in the preparation

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