Warren Buffett won’t let a little bit of volatility to scare him out of the stock market.
“Stocks are going to be higher,” Buffett said to CNBC’s Becky Quick on Monday.
Quick asked the CEO of Berkshire Hathaway if he was concerned about the big price swings made by various stocks during Q2 earnings season.
Buffett reiterated that he was a long-term investor, saying that he expects prices to be “a lot higher” 10 years or 20 years from now.
He compared owning stocks to owning a home, saying that if homeowners expected prices to fall 5%, they wouldn’t sell their homes in hopes to buy it back for 5% less. They are locked in for the long haul.