It's so painful to wait for the final crash in the markets. Why? The bear has been here for almost 2 years since early 2007 and yet, it is still eating up the bodies very slowly. How long do we have to wait to see the bear finishing up its meals?
It is not true that investors are saying goodbye to equities. For prudent investors who look for value and genuine long-term investments, we must have seek for our "margin of safety." Until we see big discounts after the final crash, there is no such margin in sight. Yes, if you are as rich as Warren Buffett, you may buy, sell, hold, buy, sell...at any time and for unlimited times! You are a sure winner from the beginning of time! But the pity is that poor guys like me are not Warren Buffett; so if you hear any guru urging you to buy like Warren Buffett, ask this question: what if the final crash is yet to come and I suffer losses?
Patience is the best strategy in times like this. You must stay inside your cave when the crocodiles and the devils in Wall Street are waiting for their preys outside. Wait until these crocodiles and devils vanish and that will be the time when Spring should come.
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