The last 2 bears, GFC, and the early 2000s Crisis (911, SARS, Iraq war, etc) are simply learning curves for me, I did not earn a fortune, in fact, I lost a fortune in the 2000s bear and just break even in the GFC. 911 and thereafter When 911 strikes, I know nuts about valuation and business. My valuation is "huh? SIA at $9" In the end, I brought 200 shares of SIA at $7.5 and sold it at $15. My thoughts then are: "Why am I so Kiasi", I start reading research report, taking the average of target prices and start buying. I made money for most. Until I fall in love in CAO, and lose everything I earn and more. Lesson: Method of the 3M is seriously lacking, I invest based on gut feel. Who says gut feel can't makes you a winner temporaily. I sold all ......