If you take the couple of centuries we've had, the 19th and the 20th, we've had about 15 bad years in both centuries, and we'll have fifteen bad years in centuries to come. Capitalism overshoots, and market people do get irrationally exuberant sometimes, but that's the nature of it. You want a dynamic system, and you want a market system that's free to make mistakes to some degree.
- Warren Buffett
www.berkshirehathaway.com
Spot on.
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