That is probably still good advice. I'm not moving much. It is dangerous to be out of the market the day it bounces up 6%.
If you are broadly diversified in stocks (primarily), then the following is true:
You own the same small percentage of the world you owned last year. It is just that the value of the whole world has dropped. Everyone is worse off, you are worse off at the same rate as everyone else, no more, no less. Someday, the world will be worth more. And if you maintain your exposure to the whole world, then you will be worth more then too.
So, fear not. If you have extra cash, this is the buying opportunity of a lifetime. If you don't have extra cash, you might rebalance your portfolio a little back to where it should be, and that might amount to taking advantage of a buying opportunity.
Thank you Uncle Miltie. I need some reassurance today and you’ve stepped in just in time. :)