"Recession" is a scary word. Get ready, because the news media will plaster it in huge bold letters across the screen (probably with ominous music in the background, too) for this simple reason: Fear sells.

But investors need not panic. As Warren Buffett said, "The most important quality for an investor is temperament, not intellect." Levelheaded investors see these times as a brilliant opportunity to find great deals.

What is a recession, anyway? There isn't one definitive standard; however, most agree that two consecutive quarters of negative gross domestic product (GDP) growth constitutes a recession. It can be shallow, like the 1% GDP dip in 1990-1991, or deep, like the 9% decline during the worst of COVID-19. 

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Source Fool.com