Pessimism Bubble?

I am watching the markets, unemployment, oil prices, housing crisis, election, hurricanes, Fannies Freddies, deficits, Leaman Brothers, WaMu and smell the emergence of a new bubble. I called the Oil Bubble right on time. I called the Grain Bubble earlier this year. If you had the guts you'd be rich now. You would have had to keep your guts, but you'd be rich.

Now we are in the deep deep pessimism that means only one thing. It's time to look for deals. They are everywhere. And you don't even need a lot of money.

Pessimism is your friend.

I'm not the only one saying this. Warren Buffett who knows more than I do says so.

So, welcome the doomsayers. They are creating a wonderful world of opportunity that may not come our way again soon.