Why Warren Buffett Doesn’t Worry Much When the Market Goes Down

The market rally that looked so promising is running out of steam.

The S&P 500 has now finished lower three weeks in a row. The Dow Jones Industrial Average has given up its gains for the year. Volatility is rising, along with demand for put options to protect against losses. The hope that “as goes January, so goes the year” is looking like a meaningless aphorism.