My friend, who is 85, gave me good financial advice:"I had three opportunities to make a killing in the market when Wall Street collapsed. I did not act out of fear of losing my savings". Later I understood that rich people wait for these opportunities and buy shares of top companies at rock bottom prices. For example, in 2008, GE fell to $7 a share and today, it sells for $84. You do the math. The secret is to pounce on such opportunities and wait patiently no matter what happens!