Oh ho ho ho!

Is that SANTA?!

noooo

It's our friend: MR MARKET!!

Oh, mr. Market was in good mood today and gave with green on all of us. Just open your blockfolio! Looks good and nice and satisfying. Mr. Market, the old bipolar wacko is contempt. I like to imagine him sleeping in a corner, laughing under his mustache at a devious dream.
Do you know what I'm talking about?

!!HELLO!!

If you don't you might need to read this from the one and only and always wise: MR MUNGER.

Of course, the best part of it all was his concept of "Mr. Market". Instead of thinking the market was efficient, he treated it as a manic-depressive who comes by every day. And some days he says, "I'll sell you some of my interest for way less than you think it's worth." And other days, "Mr. Market" comes by and says, "I'll buy your interest at a price that's way higher than you think it's worth." And you get the option of deciding whether you want to buy more, sell part of what you already have or do nothing at all.

To Graham, it was a blessing to be in business with a manic-depressive who gave you this series of options all the time. That was a very significant mental construct. And it's been very useful to Buffett, for instance, over his whole adult lifetime.

I try to always remember this and take what he gives me and discard when he's insane. But how can you tell which one is which when the whole world is insane! Mr. Market if anything, might seem the only sane fella then. NO!
Don't be fooled!!
He;s just as insane as them all, try to keep a cool head in all this as much as you can and laugh at mr. market when he's doing crazy stuff. And grab the opportunity with both hands when it presents itself.

Today, when everything goes the way we dreamed of : STEEM UP! We might think; yes, what a reasonable guy, OF COURSE Steem is up! And sleep easily until tomorrow when he makes some other insane proposition. Fooled by his niceness, we buy into his madness...and losses come.

It's not me but Graham who says:

Price fluctuations have only one significant meaning for the true investor. They provide him with an opportunity to buy wisely when prices fall sharply and to sell wisely when they advance a great deal. At other times he will do better if he forgets about the stock market.

I always try to remember this because who knows what tomorrow brings.
Be wise, stay wise and do yourself a favor: READ THIS