Warren Buffett: Why This Bear Market Could Be an Investor's Best Friend

Between 2007 and late 2008, the S&P 500 lost nearly 57% of its value over 517 days. While that sounds like a bloodbath, billionaire investor Warren Buffett called it an "ideal period for investors."

Buffett's perspective is more than positive spin -- it's an actionable lesson for investors in bear markets. The context of this comment was Buffett's 2009 letter to the shareholders of Berkshire Hathaway, the conglomerate he runs. In that letter, he had this to say about one of the stock market's worst downturns in history:

We've put a lot of money to work during the chaos of the last two years. It's been an ideal period for investors: A climate of fear is their best friend.

Source Fool.com