You're right. I guess it depends on many variables. If you're income depends on dividends and gradually selling offs of your portfolio, I can see now how that would affect my behavior. Same with being someone close to retirement but then, financial planning should have pulled out high volatile stocks from a portfolio that needs to get converted to cash shortly.

If you're a normal person, planning on buying and holding broad market ETFs for the next 20 years, we're just gonna ride it out, right? Right?