A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful.
If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.
Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.