Billionaire Warren Buffet, the world's pre-eminent stock guru and whose book (The Warren Buffet Way) I am reading, said the US economy is "flat on the floor" after a major downfall as companies struggle to secure funding and unemployment increases. He also commented that in his life he has never seen people as economically fearful as they are now. He concluded that the economy is going to be getting worse for a while.
Buffet's renowned investment company, Berkshire Hathaway Inc. agreed to buy up US$8billion in preferred shares from General Electric Co. and Goldman Sachs Group Inc. to help the companies fund their businesses.
Obviously, Buffet, as what he is known for, is taking advantage of the fragile stock markets and the lack of available credit to "buy low and sell high". He has told shareholders that his strategy is to be "greedy when others can't and are fearful". He is indeed seizing the opportunies...the Warren Buffet way!