Here is what Warren Buffet says about stock market (s):
We do not have an opinion about where the stock market, interest rates, or business activity will be a year from now. We've long felt that the only value of stock forecasts is to make fortune tellers look good. We believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
True. Stock markets, like gem markets are always prone to extremes of elation and panic attacks. They are interpenetrant twins of the real world. As Warren Buffett put it wisely, it takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently. Not always. A friend of mine in the gem industry would tell me this: I love money + gemstones more than the things it can buy, but what I love more is other people's gemstones + money + he would say, I'm not your best friend. I'm your only friend. How do you like that?
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