By unofficial counts, there were about three dozen strategists, pundits and wordsmiths who visibly called the credit crisis before it happened. I am privileged to be one of them, although I don't put myself in the same category of a publishing market strategist.

I do this sort of stuff for a living. Generally, if you can predict something to happen, with any degree of accuracy, you have a pretty good idea of what caused it to happen, regardless of what other people might be thinking or speculating after the fact.

Of the rabble (bankers and politicians) who don't like to have fingers pointed at them ... I quote Lord Keynes, who for once said something sensible:

Translation: "We didn't see it coming, everybody else didn't see it coming, so ya can't blame us because it happened."

For the love of God, folks, wake up. First rule of investing is ... don't lose money.

I'll quote a seasoned portfolio manager, a genuine stock market pro with decades of experience, with whom I had the privilege of having lunch with last week:

Let that sink in.

All great points FPP, and ones for all to learn from.

"Folks nearing retirement age who bailed on the stock market when it blew up in '08... will NEVER earn their money back."

Decisions made on emotion almost never work out.