Stressed about the stock market? Warren Buffett has an old-school fix: a 19th-century poem
The billionaire has developed a simple mechanism for those worried about volatile stock markets and tariffs.
American business magnate, investor, and philanthropist Buffet is widely regarded as one of the most successful investors of all time. Known as the “Oracle of Omaha,” he has amassed a personal fortune currently estimated at over $154 billion, ranking him among the wealthiest people in the world.
Buffett is the chairman and CEO of Berkshire Hathaway, a multinational conglomerate holding company. Initially a textile manufacturing company, Buffett transformed it into a diverse holding company with interests in insurance (GEICO), energy, railroads (BNSF), consumer goods (Coca-Cola, See’s Candies, Dairy Queen), and technology (Apple), among others.
The 94-year-old has always maintained that in the time of economic volatility, a calm head is imperative.
If...
Back in 2017, the veteran business man wrote a letter to shareholders, Buffett wrote: “There is simply no telling how far stocks can fall in a short period.” But should a major decline occur, he continued, “heed these lines” from Rudyard Kipling’s classic poem “If,” circa 1895.
“If you can keep your head when all about you are losing theirs ... If you can wait and not be tired by waiting ... If you can think — and not make thoughts your aim ... If you can trust yourself when all men doubt you ... Yours is the Earth and everything that’s in it.”
Buffett maintains that downturns are “extraordinary opportunities.” Why? Because, historically, it’s never been all that long before the market resumes its upward trajectory.
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