Be Fearful When Others Are Greedy
One of my readers sent me this quote from Warren Buffett yesterday:
Be fearful when others are greedy and greedy when others are fearful
It's sound advice and having failed to heed it last time I was in the midst of a bubble, I find myself increasingly fearful these days. It doesn't mean we aren't investing. We've closed two deals this year and are working on several more.
But it does mean that we are taking a cautious stance.
Maybe that's what Peter Rip was trying to say with his Over and Out post about Web 2.0 several weeks ago.