More paraenetic advice from Warren Buffett today… This time on when to buy stocks.
Mr. Buffett turned 88 today and was interviewed by CNBC prior having lunch with a charity donor who paid $3,300,100 to have lunch with him at Smith & Wollensky in New York City.
His quote about purchasing stocks, which some experts believe are overvalued, was interesting. He said:
“I don’t know when to buy stocks, but I know whether to buy stocks…”
He said he was actually buying stocks this morning, before lunch.
Buffett also gushed about the relative value of the iPhone as a consumer product.
He stated that the iPhone is “enormously undervalued…” based on how many hours we use it every day, how much it is part of our lives, how we can do all our work and personal activities on it.
I agree. I said before that the iPhone X was the cheapest iPhone yet.
Soon the iPhone Xs1 will be the cheapest iPhone yet… More functionality, faster, more storage, better user experience… Etc. I’m looking forward to the iPhone tsunami which will be the multi-year “supercycle”.
- Photo of iPhone Xs courtesy of 9to5Mac.com.