There is an old saying...
"A bull can make money. A bear can make money. But a hog never will."
What that refers to is how fear about your money can lead to bad decisions. People with a decent understanding who are following basically reasonable strategies consistently make money. But people who get emotional about what they have made and lost always make bad decisions and lose.
Both Another Scott and I have thought-out courses for long-term investing. I see both of us coming out OK. Neither of us is likely to freak out if we lose a ton of money. (Which it is guaranteed that we will both do.) Neither of us is going to freak out if we miss a killing (which will also happen). If you can get over the fact that it is your money and accept reality with similar equinamity, then it will all average out in the end. (Though the current market may take longer to average out than most. :-)
However if you continue with, "Things can't get worse! Oh my God, I have to get out until things turn around! I just want something left in 35 years!" then things aren't likely to turn out so well.
Cheers,
Ben
