what newspapers were saying

Everyone knows Warren Buffett's saying, "Be fearful when others are greedy and greedy when others are fearful." It's the most repeated investment maxim in history.

But here's the truth: It's much easier to say, "I'll be greedy when others are fearful" than it is to do it.

There have been four distinct incredible times to be an investor over the last century: 1933, 1942, 1982, and 2009. During each period, you could have doubled your money over the following three years. And during each period, newspapers around the country preached a constant message: Be fearful. Sadly, most of us listened. We are the "others" Buffett was talking about.


I dug through a pile of news archives to see what the media was saying about stocks and the economy during the four greatest buying opportunities of the last century. What I found is what "fearful" looks like.