Warren Buffet Says....

Dear Friends, I have taken out a portion of this article from http://www.msnbc.msn.com/id/21471227/ , I hope you all read it with an open mind and invest prudently in the coming days or even months. Remember that although stock prices are relatively cheap now compared to what it was 6 months ago, how low it will go no one knows. I would advice waiting until a consolidation period before buying up. This is because it will be a time where the no. of buyers = no. of sellers. Prices will be cheap then, perhaps even cheaper than what it is now For now, we will wait for the US to weather this storm. When investors become more optimistic again, this is the point when stocks will stat to rally again, whether it is 6 months later or 2 years later, I have to remind you that there is no fast way of making money. Plan your investment wisely for now and set aside a sum every month to invest, DO NOT buy with money you do not own. There have been so many bankruptcy cases in Singapore because of this.

Of course, for those who would still like to trade in times like these, my tip is remember to take profits fast and CUT LOSSES faster. The tide is going south like i said previously. DO NOT fight the trend, it is insanity.

Buffett: U.S. subprime woes far from over

Billionaire says housing slump will affect consumers for up to 2 years

Lee Jae-hyuk / AP U.S. billionaire investor Warren Buffett waves his hand after he arrived at Daegu airport Thursday to inspect Iscar Korea, a subsidiary of Iscar, the Israeli industrial tool manufacturer he purchased last year for $4 billion.

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updated 11:18 a.m. ET Oct. 25, 2007

DAEGU, South Korea - American billionaire investor Warren Buffett said Thursday that problems in the U.S. subprime mortgage market will likely weigh on consumers for up to two years, but that the U.S. economy will weather the storm.

The subprime crisis "is having an impact," Buffett said on his first visit to South Korea. "It will have more of an impact."

Rising default rates among U.S. mortgage holders with poor credit histories have rattled global credit, stock and currency markets since August and raised concerns about a possible recession in the U.S. economy, a major export market for Asian companies.

"In the next 6 months, one year, two years the problems in the mortgage market can cause a lot of problems with consumers and hurt buying power in the United States," he said at a press conference after arriving earlier in the day from China on his private jet.

However, the U.S. economy has often had to face various difficulties and the present was no exception, Buffett said.

"Overall the economy will make progress," he said.