"This is one of the 5 great buying opportunities of my lifetime" he said. They are: 1973-74 – Vietnam War, double digit unemployment and inflation, recession, OPEC embargo and soaring oil prices, constitutional crisis, Watergate, interest rates soaring. 1982 – Iran situation, extreme (peak) inflation, unemployment over 10%, Volker Recession, 21% prime rate, federal funds rate near 20%, correct CPI error (2% overstated). 1987 – Black Monday, market lost 20% in one day, computer driven program-trading hedging-model fiasco, contractionary monetary policy, institutional portfolio insurance gone awry. 2007-2009 – The Great Recession, subprime mortgage lending crisis, “liar’s loans”, CDOs, MBOs, AIG, credit crunch, bankruptcy of Bear Stearns and Lehman Brothers, international monetary system in jeopardy, US financial firm failures Washington Mutual, AIG, Merrill Lynch Bank, Countrywide, Wachovia, National City, Commerce Bancorp, Freddie Mac, Fannie Mae, bailouts, TARP and QE. 2020 – Worldwide Coronavirus outbreak, resulting economic recession. Bill thinks the selling is near an end and it's time to buy by phasing in your purchases. He said "It takes a lot to maintain a panic - because it requires a constant dose of new, bad news."