GMO’s Jeremy Grantham penned this in early 2009, during the pits of the financial crisis. It’s even more relevant today than then.

My favorite quote:

Life is simple: if you invest too much too soon you will regret it; “How could you have done this with the economy so bad, the market in free fall, and the history books screaming about overruns?” On the other hand, if you invest too little after talking about handsome potential returns and the market rallies, you deserve to be shot.

Jeremy Grantham