[cm2187]

And to stick to historical analogies, it's like saying "AOL and yahoo look cheap" sometime in 1999.

[prepend]

This is about the whole market, not individual stocks.

This is Buffett’s point. When the market loses $1T in a day, it will definitely come back if you have a long term horizon.

Just like if you bought nasdaq after the 2000 crash.

[cm2187]

Right, but even for the NASDAQ which took a real bath yesterday, it only went back to where it was a month ago. So it's not really a historical entry point opportunity. Maybe it's the start of a bear market. But if it's not, this sort of market corrections is not something a buy and hold investor should wait in cash to try to time. You typically lose more in market opportunity by waiting for a big selloff than going in early, taking the hit and coming back.

[prepend]

Buffett wasn’t recommending market timing, he was just recommending feeling good about buying your stocks when they are lower in price.

[coffeebeqn]

You’re just describing timing the market - which is not something Buffet would recommend to the active passive investor