Fear tends to manifest itself much more quickly than greed, so volatile markets tend to be on the downside. In up markets, volatility tends to gradually decline.

With the draft, everybody was involved. Everybody was fodder. When you got to be 21, 22 and graduated from college, for two years your life stopped. If you had been running in the direction of your life, you had to stop and do this other thing which was, if not menacing, just plain boring.

Should you protect profits? Yes. But run for the hills? No.

Philip Roth Quotes