Originally Posted by
Herod
Wasn't Buffett's mantra "When everyone else is selling, buy. When everyone else is buying, sell"? In that case maybe the answer is to buy now.
The two commonly quoted variants of that "Buy when there's blood in the streets " and "Buy to the sound of the cannons " are normally attributed to Sir John Templeton and Lord Rothschild. I think Buffett is best known for " It's only when the tide goes out that you can see who's been swimming without a costume "
Edit: On reflection, I believe he did say "When others are greedy, be fearful and when others are fearful be greedy ". Not quite as memorable as the other two, but gets the meaning across.