I am going to add more on this one.
1. Buy it now, it is cheap.
It is not cheap! Because there is no E(earning) in P/E ratio. And it is getting mighty expensive if you calculate with the real Earning. Someone said on cnbs that the stocks are awefully cheap now. LoL. How about down 50% from what we had in 2002? Since everything since 2002 were lies and bubble.
2. If you can wait 5 or more years, this is a great time to buy.
It take decades for us to build this giant bubble. It ran out mortage from 6,7 trillions to 13,14 trillions in 6 years. And trillions leveraged up 20, 30 times to hundreds of trillions.
So how long will it take for us to create another bubble like this? If we learned our lesson and we won't use the leverage. How long do you think it will take for us to get back to where we was in 2006? That is also depend on we are not going to get worse from here. Which to me is impossible.