If you want the upside building wealth, you have to accept volatility and periodic declines that come with it. it’s the price of admission for long term investment success.
If you’re not willing to react with equanimity to a market price decline of 50% two or three times a century you’re not fit to be a common shareholder and you deserve the mediocre result you’re going to get.
换句话说，市场在一个世纪才会出现两到三次完美买入机会，你绝对不应该错过它
期望年回报 = （1+%需要多少恢复到高点）^ （1/几年时间恢复）- 1
pow(1.5,1/5)-1
如果市场已经下跌了 33% 那么需要上涨 50%才能恢复。如果一年内能恢复的话。 你在-30%处买入会在恢复同样点位时获得 50%的回报 哪怕市场 5 年才恢复，你也可以获得 8%的回报
事实上 2008 股灾时，用了 5 年市场才恢复到之前高点。 2020 CONVID-19 时用了 9 个月就恢复到了市场高点。