Warren Buffett try to price, rather than time, purchases

"We try to price, rather than time, purchases. In our view, it is folly to forego buying shares in an outstanding business whose long-term future is predictable, because of short-term worries about an economy or a stock market that we know to be unpredictable. Why scrap an informed decision because of an uninformed guess?"

[Warren Buffett in Berkshire Hathaway's 1994 Annual Report]