I'll tell you the one really nice reason to be a value investor: When things like this happen, you cannot help but go nuts at the opportunity. What this looks like is the end of 1974, where good stocks are selling at three times sustainable earnings and stocks that normally wouldn't have sold at less than 20 times earnings are selling at 10 times earnings. These are exciting times. The short-term issue is that in the near term there will be a painful macroeconomic environment and we don't know how long it will last.
Think like Buffett, become a Value investor and read D. Dodd and B. Graham’s Security Analysis. Wouldn’t be a nice Buffett set up a cool essential course somewhere deep mountain, recruited a few selective people for his disciples to train how to invest. But I think he wouldn’t be a good teacher. Why am I hyper alert? asking and listening myself, very unusual for me as I couldn’t’ relax. Normally control myself to turn on and off easily. Not my fiery temper through. Funny, didn’t even bother to have a meditation. Sometimes off the rail is ok too I think
