Buffett: 50% drop "would surprise me a lot"
Billionaire
investor Warren Buffett told CNBC this morning that another market
meltdown similar to the 2008 plunge will happen again "someday," but "it
won't happen for awhile."
Asked
if the stock market could suffer another 50% plunge in the near term,
Buffett told the cable TV business channel: "That would surprise me a
lot."
Buffett said investors will one day see Dow 100,000.
But
despite some bearish calls on Wall Street recently, Buffett said
investors are unlikely to make the same mistakes they made prior to the
2008 financial crisis.
"Humans
will behave in crazy ways, both on the upside and the downside in the
next 50 years," Buffett said. "It's very unlikely they do it in the next
few years because after something like 2008, once they get out of the
emergency room, they're a little more careful for awhile."
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