The Warren Buffet you see now is the end product of meticulous years of hard work, the right connections, tons of failures and learning experience, and working with what he had at each stage of his life and success. He didn't start out as a billionaire and at that time, if he had tried to make money as if he had billions of dollars, he probably wouldn't have succeeded.

Some healthcare stocks trading for what they have in cash!

Warren Buffett once remarked that successful investing consists of long periods of inactivity, bordering on sloth. That pretty much describes my attitude towards investing coming into the new year. If we are going to have more of the October massacre, then we should at least seek cover and conserve cash.