In times of growth he is very optimistic and euphoric about the business opportunities so he offers very high buy-sell prices in fear that the investor will reap all his imminent gains. On the contrary, when Mr. Market is depressed he sees only the pessimistic picture and his lower expectations of future lucrative opportunities, not say that even losses are anticipated, makes him set very low prices in fear that an investor will unload his interest on him. In both cases prices deviate from the real value of a business. Moreover, Mr. Market is a partner that does not mind being ignored, meaning that transactions are fully optional and whenever an investor does not like the proposed price, he can wait until Mr. Market offers a new one in hope that it will be more suitable. Thus Mr. Market’s emotionality fully favors the investor, as long as one uses the market as a servant not as a guide. For this purpose one should be sure that one understands Mr. Market or else better not deal with him since falling into his influence can be disastrous. Buffett synthesize all that very clearly – “profit from folly rather than participate in it. Be fearful when others are greedy and greedy when others are fearful.”