Over the long run, Wall Street is a wealth-building machine. When compared to other asset classes, such as bonds, housing, and commodities (e.g., oil and gold), nothing comes remotely close to the annualized returns that equities have delivered over the last century.

But this doesn't mean stocks move up in a straight line.

The first three trading sessions of August featured the growth-stock-powered Nasdaq Composite shedding roughly 1,400 points, or 8% of its value, which officially put it in correction territory. Although steep declines can be unnerving (especially for newer investors), they have historically represented an opportune time for long-term investors to pounce.

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Source Fool.com