It has been said many times and there are many many articles and posts about buying undervalued assets. I recently saw a YouTube video from Buffett himself. In this video interview with Charlie Rose, Buffett reiterates that distressed assets are a great investments. He talks about Mortgage-Backed Securities and the government bailout. He says if you buy distressed assets at distressed prices, you are sure to make money. He also mentions about his continued belief in the US economy over time. Finally he closes with his classic quote: “You want to be greedy when others are fearful, you want to be fearful when others are greedy.”
All I can say is; easier said than done. Otherwise, there won’t be only one Buffett.