... he's hopeful people have learned that the smart thing to do is to buy quality companies with strong balance sheets and healthy dividends that trade at reasonable prices.

... people need to realize that sometimes stocks are cheap for a reason...

Thanks Sharky. Few timeless thoughts in this article. Unfortunately people never learn and bubbles (like OIL bubble in 2007/8) will emerge in one form or anther. Hopefully one can take advantage of it and cash in before the music stops.

Dondon, if things are so good in Canada why do we have about $60 billion dollars deficit? (equivalent of $800 billions US deficit). Just two years ago we had $12 billions surplus.