How do you know he is wrong to invest? Investment performance is not judged over days, weeks, or months. Buffett is simply making a bet that stocks from these levels will outperform cash and bonds over the long-term. He said himself he has no idea if the market will be higher or lower in the next few months. By your logic someone who said the nasdaq was a bad investment at 4000 was wrong because it eventually went to 5000. You didn't read what Buffett said, and spouted off judging an investment as if it were a short-term trade in the ES. You are therefore an unmitigated moron of the highest order.
Why are you posting the daily values of the S&P? Buffett's position is not a daytrade or a bet on the direction in the near-term, it is an investment. And investment is not judged based on days or weeks of performance, but rather on the long-term results. Updates should be monthly at the most, and really it should be quarterly or even annually. Where the S&P lies in 2011, 2012, 2015 is a much better gauge of performance for an investor in the index, than its current swings. With the VIX above 50, day to day results are pretty meaningless for any long-term investment positions.
Buffy caught the falling knife in his chest. He's getting killed He's lost 10 billion so far. He did not follow the teachings of his guru Benjamin Graham. He violate the rules of Graham value investing by trying and failing to guess the bottom.
Buffett is a genius. He will come out way ahead on this and a year from now people will be praising him as they always have done in the past for his insight.