Warren Buffett Has Always Said This 1 Thing About Bear Markets. History Shows He Has Never Been Wrong.
By newsfeedback@fool.com (David Dierking)
Read original article on Motley FoolInvestors fear bear markets, and understandably so. After all, nobody likes to see the value of their portfolio drop by 20% or more.
Warren Buffett, on the other hand, takes a different view. He said in a 1990 letter to Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) shareholders that he "welcomed" a 50% decline in Wells Fargo (NYSE: WFC) earlier that year. The reason was simple. He was happy to jump on the chance to buy more shares at a deeply discounted price.
The former Berkshire CEO has always been about accumulating assets at attractive prices. It's been his strategy for every bear market he's been through. And it's one that's never let him down.
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