Warren Buffett and Charlie Munger, chairman and vice chairman of Berkshire Hathaway respectively – when asked during their yearly annual shareholders’ meeting held recently in Omaha, Nebraska. “Do you worry about the Europe situations ?”

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He said “I don’t waste worrying about Europe”. Buffett bought eight European stocks last fall. And he said simply of the crisis in European sovereign debt, “I don’t know how it plays out in Europe' but I would totally avoid buying medium- and long-term government bonds, our own or other countries’.”

In fact, Buffett and Munger don’t waste time worrying about any macro concerns (except one ' inflation). Buffett said that in the 47 years he and Munger have been running Berkshire, “We’ve never talked about macro stuff.” Never. In 47 years. That’s interesting.

Another legendary investor ' Peter Lynch of Fidelity. Lynch once famously said, “I spend about 15 minutes a year on economic analysis. The way you lose money in the stock market is to start off with an economic picture. I also spend 15 minutes a year on where the stock market is going.”

So if you are longer term investor like Buffett or Lynch, you should not worry about the macro situation happening in Europe and globally.