It seems that the depression about the financial sector and the whole american economy has taken over the market. The companies that really lifted from the slumps last couple weeks, are heading back into it. This is a great opportunity to use any excess cash to buy into those excellent businesses.
The most important trick will be to have the patience to ride the downturn -- which should be not a problem as long as you are a long term investor. Remember, when I say long term, I mean 10 years or longer. And the kind of returns I am seeking from excellent businesses is over 15% per year.
I think I am watching this market way too closely and it's depression is rubbing off on me. I think I will have to cut off the market noise and stick to my guns.
