On Wednesday, a trillion dollars in paper wealth had been wiped out during the trading session at one point, but those losses were later pared back as cryptocurrencies rallied.  On social media, there has been a lot of weeping and wailing due to the huge financial losses that some people have experienced this week.  But if you think that these losses are bad, just wait until you see what is coming later.

In the old days, investors would carefully select the companies that they were going to invest in.  The key was to identify companies that had something of great value to add to society and that were being run very well.  In those days, strict adherence to the fundamentals would often bring great rewards.  Just ask Warren Buffett.