Seen a lotta markets but never seen one like this. No one has. Always something new to learn in this game. Adversity is not the end of things. Don't let Tommy make you crazy. Imagine if you had to spend every day locked in his loony head!
The worst example was the speech by the Buffett a week ago ridiculing savers for being, as he called it, "brutalized". One must remember that when you buy an asset with no guarantee of a return of principal, there is always a 100% risk of loss. Even Benjamin Graham, value investor, lost 60% from 1930 to 1932.
My Grandparents were Savers, and gave my children books for their birthday presents. Nice, hardback Classics, and very well thought out givts. And they would would read a few poems or chapters to them, as an introduction.
My Children were already well familiar with the benefits and value of books, but they loved that One on One time also.
Buffet is a great investor but I have zero respect for him as a man. He is a political hack and a hypocrite. He has also been selling throughout 2013 besides his HNZ purchase. His market cap/GNP ratio suggests this market is insanely overvalued.
Also, Daily Sentiment Index at 92 today and Market Vane's bullish consensus at 69 and has been floating around 70 most of the year (as it was in 2007).