A Buffett Disciple On What To Do About Market Turmoil

A Buffett Disciple On What To Do About Market Turmoil by Guy Spier, Observer

[buffett]

“Back in the day” is an expression I had not heard until I came to Wall Street. To me, it denotes the speaker’s harking back to prior time. A golden age. A time when things were getting better, and what we lacked in experience was made up for by a generally benign and improving environment.

But that it is emphatically not where we find ourselves today. Today life in the markets is hard. Stocks are volatile, and mainly in a downward direction. For the last five years, the world’s Central banks have sloshed vast sums of money into the system, but seemingly to no avail....