“Buy Amercian. I am.” declared Warren Buffet in an opinion piece in the New York Times on October 17th, 2008. This article is written by Warren Buffet and I highly recommend you read it here.
In his own personal account he says that he has been buying American stocks. He also says that people who currently have their wealth in cash should not feel comfortable at the moment. Read the full article to understand his reasoning, including some historical context.
Following the historical context Buffet writes:
You might think it would have been impossible for an investor to lose money during a century marked by such an extraordinary gain. But some investors did. The hapless ones bought stocks only when they felt comfort in doing so and then proceeded to sell when the headlines made them queasy.
Slow, steady and committed wins the race. Chopping and changing in line with your emotions will cost you dearly.