Warren Buffet asked about the future for this country

[Fredledingue]

..and when Buffet told us that "Worse is to come", he was buying like crazy!

Originally Posted by James Altucher

In the first quarter, during the midst of the credit crunch, Buffett added to his holdings of US Bancorp and Wells Fargo,

link

[Airelon]

Indeed. I have the same thought. My BAC holdings are really squashing my portfolios. I have returns of 80% on some stocks. 40%. 60%. And there sits BAC.

But I'm thinking of adding to it. Now I'm not looking to buy BAC anytime soon. It may be 3 or 4 months. But I am keeping my eye on it. Why? Sooner or later, this sucker has to consolidate. It'll start to move more sideways than down. The moving averages will start to round out. And when that occurs? I'll look for them to break above the moving averages - in order to DCA my position with them. I have a lot of excess cash at the moment, and as I mentioned in my first post with BAC - I was somewhat expecting lower prices. In the meantime, I'm DRIP'ing with the current divvy's at these prices.

The Countrywide deal has investors and traders spooked. But we get some resolution? We see a rounding out of the moving averages? We get some time to pass? This stock is my number one in the DCA category ...

[rachael24]

I agree as well...I am 23 years old and am already concerned with my long term life.

[Ray The Money Man]

Rachel, I would give my seat in hell to be 23 and have the buying opportunity you have right now. Do everything you can [additional part time job etc.] to buy now while there is blood in the streets! And you will have nothing to worry about when it comes to your future.