When the Oracle of Omaha talks, it pays to listen. Today, in an op-ed contribution to The New York Times, Warren Buffett said he is buying American stocks. In the midst of financial market turmoil, how could the world's richest man be thinking of jumping into the stock market? First, he has a long-term outlook and thinks stocks will increase in value over the next 10 to 20 years. Next, he has experience being greedy when others are fearful and fearful when others are greedy. Does anyone doubt that fear permeates our economy and markets? Finally, Buffett says cash loses value every day and history indicates that the market recovery will occur before the economic recovery. Before you jump into the market like Buffett, give some thought to your financial situation and your near-term and long-term financial needs. Also, heed Buffett's caution that he has no idea what the market will do in the near-term. To learn more about Warren Buffett, visit the Moneysmartz Warren Buffett page.