Every time the U.S. stock market drops sharply, there are always countless voices—


Buffett this and that, and every possible indicator this and that;
what kind of bubble this and that, which big-name investor sold everything off this and that;
which big-name investor shorted the market this and that;
who said they would wait for a 30% drop before going bargain hunting for the bottom, and so on, and so on—
No surprises: this group of people all missed it, earning not a single penny.
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