Strike, never buy something when you see the crowd howling for it. If everybody is convinced that goose feather futures are the path to eternal riches, that's when you either sell or completely avoid goose feathers.

Simple rule of investing: When people are screaming that the end is near and we're all going to be living in moldy barrels under a bridge any minute, buy. Conversely, when you hear that we're in a new economic paradigm where X* is going to go up and up and never come down 'cause the rules have changed, sell.




* X = Any commodity, stock or substance which has become popular for no good reason. See housing bonds, gold, ARs, junk bonds and tulips for further reference.