Over five-year horizons, buying a quality business at an attractive price today is likely to reward investors well. The longer your time horizon, the more more the “American tailwind,” as Buffett called US capitalism, has time to do its magic. And this tailwind has particularly prevailed over the long term despite recessions, depressions and even world wars. Its resilience has been demonstrated more recently too, Buffett remained optimistic about the economy. Consider this quote from Buffett’s annual letter to Berkshire Hathaway shareholders, which was released yesterday:
Despite serious disruptions, our country’s economic progress has been breathtaking. Our unwavering conclusion: never bet against America.
So, should you buy stocks now? For investors who want to stay invested for the long term, this is probably a good idea. Instead of overthinking the direction of the market, spend that energy looking for good opportunities.
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