For most people, whether investing or speculating, it essentially boils down to buying low and selling high—buying at the bottom and selling at the top, and waiting for the rest of the time. Well, that's the obvious truth, but everyone knows that. The key question is: When is the bottom? When is the top? Who knows??? In my opinion, no one really knows where the bottom or the top is. There are two reasons for this:Warren Buffett once said that predicting the bottom isn’t our game, but valuatio...

For most people, whether investing or speculating, it essentially boils down to buying low and selling high—buying at the bottom and selling at the top, and waiting for the rest of the time. Well, that's the obvious truth, but everyone knows that. The key question is: When is the bottom? When is the top? Who knows??? In my opinion, no one really knows where the bottom or the top is. There are two reasons for this:Warren Buffett once said that predicting the bottom isn’t our game, but valuatio...