“Be fearful when others are greedy, and greedy when others are fearful.”

Are you as tired of reading that as I am of writing it?

This isn’t even Investing 101. It’s the Cliff’s Notes cheat sheet for “Investing for Dummies.” The only principle to investing more rudimentary is “buy low and sell high.”

But obviously you need a refresher. Because you still buy high and sell low. You are terrified when others are fearful.

And greedy? Just what were you looking at this year when you kept buying stocks? The little green line that inched up and up? Your broker’s new sports car? Don’t try to hide it. I know you were buying. I saw the rally. You know, the one that was wiped off the books in a downturn last week. (Stocks bounced back somewhat Friday, but they're still well off the year's high.)

Market analyst Doug Short had recently noted that the market was overvalued between 50% and an 90%.