Buffett points out that neither he nor his partner Charlie Munger can predict “winning and losing years in advance” (“we don’t think anyone else can either”), he writes that “we’re certain, for example, that the economy will be in shambles throughout 2009 – and, for that matter, probably well beyond – but that conclusion does not tell us whether the stock market will rise or fall.”
- From 2008 Berkshire Hathaway Annual Letter
Warren Buffett
