Can This Classic Warren Buffett Advice Make You a Better Crypto Investor?
Warren Buffett is one of the best-known and most influential value investors of our time. It's for good reason that people often refer to him as the Oracle of Omaha -- his commonsense, value-oriented advice about how to invest in stocks has made him one of the world's wealthiest individuals. So, could some of his most famous advice on stocks be used by crypto investors as well?
On the surface, this might sound nonsensical, given that everyone knows Buffett is no fan of crypto. In the past, he has called Bitcoin (CRYPTO: BTC) "rat poison squared" and has famously said he wouldn't buy all the Bitcoin in the world for $25. But there is one piece of classic Buffett advice that seems particularly appropriate for today's crypto investors: "Be fearful when others are greedy, and be greedy when others are fearful."
In 2008, during the depths of the Great Recession, Warren Buffett wrote an op-ed article (Buy American. I Am) for The New York Times that contained this famous nugget of advice. At a time when many investors were throwing in the towel on American stocks, Buffett argued for a contrarian approach. He suggested that some of the best American companies were being knocked down to unreasonably low levels. And he gave specific reasons certain companies would survive the Great Recession and prosper later.
Source Fool.com
