Buffett: Don’t Sell Japan
Monday, March 21st, 2011“If I owned Japanese stocks, I would certainly not be selling them because of the events of the past 10 days or so,” said Buffett, speaking to reporters in the South Korean city of Daegu, where he arrived yesterday to attend a ceremony for a new factory being built by TaeguTec Ltd. “Something out of the blue like this, an extraordinary event, really creates a buying opportunity.”
I think Buffett is spot on. For Japan, this catastrophee does not change the long-term economic prospects. On the contrary, it may even be an opportunity to reform the political system and strengthen the unity of the Japanese population. There is also an interesting discussion going on about this topic in our discussion groups.