Late July and early August were a roller-coaster ride for the stock market. The Nasdaq-100 index hit a new all-time high in July but then fell rapidly by more than 10%. Investors are worried about a slowing economy and consumer spending in the United States. There is even talk of a recession.

Smart investors know to avoid the headlines and macroeconomic talk. The folks who are talking of downturns now are the same people who have been predicting a recession every year for the past 15 years. But market declines are normal and should be expected from time to time. Stocks don't go up in a straight line. In fact, investors should embrace those drawdowns as opportunities to buy quality stocks at cheaper prices.

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Source Fool.com