CNBC.com outlines eight timeless predictions by Warren Buffett on its Warren Buffett Watch blog. While CNBC labels these as predictions, we tend to think of these more like lessons that Buffett offers up to long-term stock market investors. After a year like 2008, Buffett’s lessons provide some perspective on dealing with recessions, bear markets and investor psychology.

1. Recessions can’t be avoided forever.

2. We’ll survive current and future recessions just as we’ve survived past problems.

3. Recessions will create opportunities.

4. All stocks won’t be cheap.

5. The crowd will make mistakes.

6. Investors will mistakenly think falling stock prices are bad.

7. Good times will prompt bad decisions.

8. There will be more dancing at another wild party followed by another painful hangover.