If you find a good company at a good price, who cares what "the market" is doing?"

When buying a great wonderful company, also ensure that the stock was reasonably priced.

Even a great company can be a bad investment if you pay too much for it. 

In the case of Lubrizol, Mr. Buffett is paying $135 a share. That's less than 13 times last year's earnings, and 12 times forecasts for 2011. 

If you find a good company at a good price, who cares what "the market" is doing?