"The only time to buy these is on a day with no "y" in it"
About this Quote
Warren Buffett’s statement, “The only time to buy these is on a day with no ‘y’ in it,” is a masterful display of both his wit and his financial acumen. At first glance, the phrase appears simply playful, poking fun at the calendar. However, every day of the week contains the letter “y” in its name, meaning that if one were to follow the advice literally, there would never be an appropriate time to buy “these”, presumably a reference to a speculative or overvalued investment.
Buffett’s underlying message is to avoid certain types of investments entirely. His career has been marked by an emphasis on fundamental value, disciplined patience, and an aversion to speculative frenzies or faddish assets. When investors get swept up in hype, bidding certain stocks or commodities to irrational highs, Buffett stays away, regardless of short-term trends or fear of missing out. In this saying, “these” often refers to so-called “hot stocks,” fads, or any financial products that are being marketed aggressively, and whose value isn’t supported by underlying earnings or strong business models.
The quote also serves as a caution against buying out of compulsion or under the influence of mass enthusiasm. Buffett’s tongue-in-cheek denial of the possibility of a good buying day for such assets is a call for skepticism and rational analysis. He advocates investing only in businesses you understand, at sensible prices, with clear evidence of long-term value, not because of speculative excitement.
Moreover, hiding practical wisdom behind humor has long been Buffett’s hallmark. By making the advice memorable and amusing, he ensures it will stick with his audience, encouraging investors to question their impulses. The wit in the line acts as a shield, protecting listeners from being duped by the next market craze, by reminding them that sometimes the best time to buy something is never.
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