“We do not have, never have had, and never will have an opinion about where the stock market, interest rates or business activity will be a year from now.”
—Warren E. Buffett, the world's greatest investor in his annual letter to shareholders 30 years ago today, dated February 28, 1989
- On February 28, 1989, the Standard & Poor's 500-Stock Index closed at 288.26. On December 31, 2018 it closed at 2,507, close to nine times where it was on the day of Buffett's letter, ignoring dividends
- On December 24, 2018, the Standard & Poor's 500-Stock Index closed at 2,351. Today, it sits at 2,791 - about 19% up from it's Christmas Eve low. This says absolutely nothing about where the market will go from here - other than that nobody, not even Buffett, knows.
The information in this material is not intended as investment, tax, or legal advice. Please consult your advisor or tax professionals. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.