This post appeared earlier today on RealMoney . Click here for a free trial, and enjoy incisive commentary all day, every day.Great to see Warren Buffett buying here. Fabulous. He has a lot of firepower. He is right to buy American. And I want to go with him, except, he's been buying for awhile, and, more important, he can be down 20% to 30% and it doesn't matter. Buffett emphasizes over and over again that he can't time the market. Over and over again, he makes the point that he is in it for the long term.
This is simple arithmetic. These buys are of absolutely no consequence to him whatsoever. He may very well make fortunes on his buys. And he has waited until stocks are down. But are you Warren Buffett? Are you as rich as he is that you don't need to worry about those big purchases? If you are, I say bombs away. Go with him. If you are not, consider that, if you followed him with GE and then followed him today with this New York Times picks and those prices fell as much as GE did, you would be in a real jam. Look, the easiest thing to do at all times is to say, "Stay the course." It's a natural. It is a terrific, easy strategy that can never be refuted ever because at no point are you ever wrong. Ever. I repeat, Buffett is the house. He is the casino. He can have whole months, even years, where he can get clobbered by the drop. Can you? Random musings: I think the futures should not have been down big this morning. That smelled like another S&P liquidation from still one more hedge fund. I continue to believe that tech leads us. Qualcomm ( QCOM), which I own for Action Alerts PLUS, should trade with Nokia ( NOK), which put on a pretty good face. At the time of publication, Cramer was long General Electric and Qualcomm.