What an idiot

From today's NY times article. 
 

As is often the case when stocks fall steeply, the market is starting to entice some investors, many of whom say they have never seen prices so low, to buy. Among them is Mr. Grantham, the GMO chairman.

After years of warning that stocks were unreasonably overpriced, he said he now believed they were below their fair value and had been slowly acquiring holdings in blue-chip companies.

“It’s a very nerve-racking time to be a value investor,” Mr. Grantham said. “You put a little bit into the market, and the next day you think, ‘What an idiot, what an idiot.’ ”

After hearing Warren Buffet and Jeremy Siegel say "buy now", I thought, who am I to disagree with those guys?  At least Mr. Grantham can made me smile.