Feh. Easy for Warren Buffet to say. When foreclosure and debt are standing around the corner, waiting to jump you, one has his mind on something else than equities and stock markets.

Besides, his comparison of the current situation with the depression in the 30s is utterly ridiculous and comparing today with the 80s is slightly less simplistic.

Thirdly, it's obvious Buffet has to preach this version of the market-gospel. His own fortune is at stake.