So... down another 1,000 points this morning. I remember at the depths of the financial crisis, when the Dow hit around 8,000, and things were really scary, Warren Buffett said "now is the time to buy..." It went down to 6,600 as I recall, and that was the bottom. So anyone who heeded his advice would have made a lot of money.

No one can call the bottom except by sheer luck, and no one can predict what the market will do in the short run, meaning less than at least a year or two. Long run, the market always beats everything. Because business beats everything, and there is nothing as powerful as human greed and ambition and ingenuity.

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