Buffett: The time to buy stocks is when nobody else wants them

In the recession of 20087 - 2009 we had the opportunity, and for those of us who did venture into that abyss, the rewards were tremendous.

Here is a quote from Warren Buffett during the 1990-1991 recession in the U.S.:

"Nevertheless, fears of a California real estate disaster similar to that experienced in New England caused the price of Wells Fargo stock to fall almost 50% within a few months during 1990.  Even though we had bought some shares at the prices prevailing before the fall, we welcomed the decline because it allowed us to pick up many more shares at the new panic prices.

Investors who expect to be ongoing buyers of investments throughout their lifetimes should adopt a similar attitude toward market fluctuations; instead many illogically become euphoric when stock prices rise and unhappy when they fall."