achtung . serious money talk . beware , page-14

I guess only time will tell if Bear Sterns has not that much material news that will be a drag on its earnings. BSC has now reached $105+ and will be interesting to see what tonight will unfold.
Despite the enthusiasm that has swept the financial globe to downgrade businesses to unwarranted levels (although it should be noted that some have been warranted), continuing to hold and buy quality should suit any long term investor.

Take the Blumkin's for example (to those who are die hard Berkshire fans would know who Mrs B is). When she sold the Nebraska Furniture Mart (NFM) in 1983 she had only one regret, that she didnt take the option of Berkshire stock but rather settled for the cash.
Sitting and holding on a pile of Berkshire stock back then, and mind you eliminating any dividend (well no dividends are paid) the Blumkins would be extraordinarily far richer than what they are today. They are incredibly rich today mind you!!

***Whats the point?***

Emotion regardless of who we are does blind us in the short term. Solid businesses are bound to have hiccups along the way (think of WPL), but in the end they maintain focus on the business and produce results becoming far more effective and efficient in dealing with road bumps along the way for the longer term.