[throw0101b]

> You can put your money in the market and be underwater for over 9 years, or even over 25 years.

And in many cases, if you didn't cash out and crystallize your losses, you could still be fine:

* https://awealthofcommonsense.com/2014/02/worlds-worst-market...

Also why diversification and asset allocation is important: having 20% in bonds in addition to being in the S&P 500 during the 2000s (post-dotcom, post-GFC) still allowed you to have an positive return:

* https://www.forbes.com/sites/advisor/2010/09/13/its-not-real...

Some Bogleheads did a similar analysis for 1980s Japan bubble: having some bonds and foreign (non-JP) stocks, limiting your JP equities to (say) <60%, and rebalancing ~annually gave you really good numbers, even after the crash.