Buffett: I'm Buying American. You Should Be, Too.

“I’ve been buying American stocks,” Warren Buffett writes in the New York Times, and he'd like to see a stampede of others following suit. Sure, the financial system is a mess, global economies are faltering, unemployment is rising, and headlines will continue to terrorize markets. But markets will repair themselves, says the Oracle of Omaha, and those who wait for "the comfort of good news" will lose out.

While short-term fluctuation can’t be avoided or predicted, he's confident that "most major companies will be setting new profit records 10, 15 and 20 years from now.”  His mantra—“Be fearful when others are greedy, and be greedy when others are fearful”—tells him to move now, when the market is awash in fear. In short, he says, "bad news is an investor’s best friend. It lets you buy a slice of America’s future at a marked-down price." (More Warren Buffett stories.)