Long term investment during bear phase i.e. when the prices are touching the earth is best decision. The prices are at it's very low. This is the best time to buy. But only for long term.
The people who will buy presently and hold for a couple of months or one or two years will earn a lot.
We all say very reasonable things. However, every time we start doing something, we make the same mistakes. Sometimes we do not have the patience, sometimes we succumb to a herd instinct.
I agree, even good traders or investors make these mistakes from time to time. Mostly when something really gets through to them and they loose their coolness...and make decisios influenced by emotions or instincts.