Warren Buffett's bubble cash-out strategy revealed in 38-year-old letter

Here is Warren Buffett's pension fund management advice in a nutshell: be patient, buy only a few things, ignore the stock market until it becomes irrationally optimistic, at which point sell.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1299061/warren-buffetts-bubble-cash-out-strategy-revealed