“Where Are Markets Headed? Six Pros Take Their Best Guess” was the headline in The Wall Street Journal. Clearly, much is written, and even more is probably spoken on financial shows, about where the market is headed. Is it at a peak? Is it at the bottom? Will it be higher or lower a week, month or year from now? Warren Buffett thinks that such prognostications are ultimately useless when it comes to actually making money.
“I know of no one that has been successful at, and really made a lot of money, predicting the actions of the market itself,” Buffett said at the 1999 Berkshire Hathaway annual meeting. “I know a lot of people who have done well picking businesses and buying them at sensible prices.”
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© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.