Buffett told CNN Money's Term Sheet today that the sea of red all over the S&P 500 earlier this week is exactly what he looks forward to--a chance to buy low.
"The lower things go, the more I buy. We are in the business of buying," he said.
It's too bad that Buffett didn't say exactly what he was picking up from the equities bargain bin.
On S&P's downgrade of US Treasuries, he said, "U.S. Treasuries are still triple-A in that there is no question that we will repay the interest and the principal. Every contract will be repaid. So our bonds are triple-A. Our currency, the dollar, is not triple-A. Our bonds are...
http://finance.fortune.cnn.com/2011/08/11/warren-buffett-buy-stocks/
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