An argument is made that there are just too many question marks about the near future; wouldn't it be better to wait until things clear up a bit? You know the prose: "Maintain buying reserves until current uncertainties are resolved," etc. Before reaching for that crutch, face up to two unpleasant facts: The future is never clear and you pay a very high price for a cheery consensus. Uncertainty actually is the friend of the buyer of long-term values.
And I leave my post of observation and find I have had enough of this outside life; I feel that there is nothing more that I can learn here, either now or at any time. And I long to say a last goodbye to everything up here, to go down into my burrow never to return again, let things take their course, and not try to retard them with my profitless vigils.
I've had very deep relationships that lasted for long periods of time with people - you could almost call them marriages, even though I didn't marry. But it was costly.
To gain anything we have longed for is only to discover how vain and empty it is; and even though we are always living in expectation of better things, at the same time we often repent and long to have the past back again.
As soon as the recovery is well under way, we need to set up a long-term plan to reduce the structural deficit and make sure we are not leaving a mountain of debt for the next generation.
A market downturn, doesn't bother us. For us and our long term investors, it is an opportunity to increase our ownership of great companies with great management at good prices. Only for short term investors and market timers is a correction not an opportunity.