Times Online - Buffett expects markets to get worse

"Mr Buffett said: "We're in a long correction, because we had an incredible 'mass hallucination', 'bubble', whatever you want to call it. That carries a price with it, which has not been fully paid but which we've made a good downpayment on so far."

He added: "It's only in the rinse cycle that you find out how dirty the laundry's been. We're in the rinse cycle now.""

Warren Buffett on the continuing slide of the economy.  Not something I normally comment on, but I loved the quotes above.

"viadrudge"