Buffett says he won't be selling anything....

Here's what Warren Buffett said about buying stocks on Monday....

"I won't be selling anything," Buffett told the CBS program "60 minutes".

"If prices would fall significantly, there's some things I might buy."

(See the full article linked to below....)

I'm also not planning to sell any of my stocks. I might be looking to buy however.... As well as helping to support the stock market, there could be some good buying opportunities (from a "value investor" perspective)....

- Dien Rice


Buffett Says 'Won't Be Selling Anything'

... Buffet said the country is no different economically than a week ago.

``And certainly if you owned a piece of an American business that you felt good about a week ago, it would be crazy, in my view, to be selling it at 9:30 tomorrow morning,'' he said.

Jack Welch, the recently retired chairman of General Electric Co., also said on CBS he would we holding onto his stocks on Monday.
``I'll probably just hold,'' he said. ``My view is that this is the best place in the world to invest. We have the strongest economy.''

Buffett pointed out that the economy was already in a slowdown before last week's events. ``There was a slow-down going on last week, and there'll be a slow down going on next week,'' he said but added that the attacks are likely to have ``some impact'' on third quarter earnings.
The U.S. economy barely grew in the second quarter, with GDP eking out a tiny 0.2 percent gain.

Another guest on the show, former Treasury Secretary Robert Rubin and now Citigroup board member, was also upbeat on the fundamentals on the economy.
``I think the right message...is to keep your eyes on the long term strength of our economy and our society, and react calmly and sensibly, and thoughtfully, just as you always would,'' he said.

...Buffett also said his company, Berkshire Hathaway Inc., which owns General
Re, a reinsurer set to take a share of insurance losses arising from the
destruction of the World Trade Center, is well-equipped to pay out a great deal
of money.

``We will pay out, at Berkshire, a great deal of money, more money than we've
ever paid out -- in respect to any catastrophe -- before this.

But we're well equipped to take it.'' Buffett said there is no doubt that some
insurers will be hit badly by the crashes which may result in the failure of
some companies.

Another sector that has been hit hard is the airline industry, and Welch (who
was also interviewd on the same 60 Minites Program) said the government would
likely have to step in to bail it out. ``I mean there's just no question that
industry has been impacted uniquely,'' he said.

The U.S. House of Representatives failed last week to adopt a measure that would
have offered $12.5 billion in loan guarantees to the airline industry and
another $2.5 billion in direct aid, but lawmakers are expected to try again to
move legislation to help the already ailing industry in the coming days.

However, Buffett was not so enthusiastic about such a proposal. "There have been
a lot of airlines that have gone bankrupt without having the sort of events
you've had in the last week,'' he said.
"So we have to be very careful about any mass subsidization.''