A great quote from Peter Lynch (from 1994) to remember or learn today -> Study History

quote:

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You should study history. History teaches you the market goes down. It goes down a lot. The math is simple. There have been 93 years this century. The market has had 50 declines of 10% or more. With 50 declines in 93 years, the market falls at least 10% about once every two years. We call that a “correction,” a euphemism for losing a lot of money rapidly. Of those 50 declines, 15 have been 25% or more. That’s known as a “bear market.” We’ve had 15 declines of at least 25% in 93 years, so every six years, the market has a 25% decline. That’s all you need to know. You need to know the market will go down sometimes. If you’re not ready for that, you shouldn’t own stocks.

It’s good when the market goes down. If you like a stock at $14 and it goes to $6, that’s great. You understand the company. You look at the balance sheet. They’re doing fine. You hope for $22; $14 to $22 is terrific, $6 to $22 is exceptional, so you take advantage of these declines. Declines happen, and no one knows when they’ll happen. People tell you they predicted it, but they predicted it 53 times. You can take advantage of the volatility of the market if you understand what you own. That’s a key element.

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