Not investing is a wise decision when there is nothing available at a reasonable price. Berkshire Hathaway's cash position is evidence of exactly that. There's

Not investing is a wise decision when there is nothing available at a reasonable price. Berkshire Hathaway's cash position is evidence of exactly that. There's nothing good on sale right now. My own opinion of the state of the market is similar -- while I haven't been looking hard, I haven't found a solid value investment with a margin of safety in at least two years.