In 2020, the world entered a bear market as the coronavirus pandemic disrupted economies everywhere. Few investors could have foreseen that event with any clarity, let alone known exactly when the market would bottom out or when it would turn higher again. But that doesn't mean investors didn't have an opportunity to buy on the cheap.

The 2022-23 bear market, while absent the pandemic precipitant, wasn't all that different. It lasted much longer, but eventually turned for similar reasons. For investors, the opportunities are once again there for the taking. The key in both cases was to use such downturns, not to time them perfectly. 

Benjamin Graham, a Wall Street legend who helped to train Warren Buffett, had a story about investing that has not only stood the test of time but offers some wonderfully insightful. He explained that investing on Wall Street is like having a partner called Mr. Market. Mr. Market is prone to wild emotional swings. Some days he is excited and happy and will buy your stocks at what seem to be very generous levels. On other days, he is downbeat and pessimistic and will sell you his stocks at levels that seem cheap. The idea is to buy from Mr. Market when he's willing to sell on the cheap.

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Source Fool.com