Friday, October 3, 2008

Buffett continues to buy up distressed stocks

Today we get news that Buffett's bank - Wells Fargo (WFC)- has bought Wachovia (WB) swooping in and taking them away from Citigroup (C). Buffett is betting big on the rescue plan to be voted on in the House today. Recently he has bought stakes in GS, GE, and CEG. If Buffett is loading up, should you be sitting on the sidelines?

Great interview with Buffett talking about the rescue plan and his recent investments. Buffett continues to be the ultimate buy low, sell high investor. He continues to be positive that the rescue plan will be profitable.

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