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Even Warren Buffett made big mistakes in 2008 — here’s how to avoid them now

Here we go again.

The last couple of days have given many Americans a sense of déjà vu. The Dow Jones Industrial Average DJIA, +2.33% and the S&P 500 SPX, +1.74% each fell more than 4% on Monday, the biggest one-day percentage decline since August 2011, but rebounded by 2.3% Tuesday. The drop seems eerily familiar, but it’s really the overreaction we have all experienced before.

“It was expected after the amazing market run,” says Rich Guerrini, CEO of PNC Investments in Pittsburgh, Pa. “We were long overdue for the events that we saw over the last couples of days.

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