Warren Buffett picked a tough time to tell people to buy stocks. On Oct. 16, 2008, with the financial crisis in full swing, he wrote his famous op-ed in The New York Times, "Buy American. I Am." In it, he announced that he was buying stocks again. Unfortunately, that call came way too early in the bear market. From the time this piece was published to the March 2009 low, the S&P 500 (SNPINDEX: ^GSPC) fell by more than 30%. It was one of the few times in his career where investors thought he might have finally lost his magic touch. While the timing of his buying proved to be incorrect, there were a couple of Buffett principles that proved to be right. Source: Getty Images.
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