Those who are so bearish saying stocks will fall another 80% or go to ZERO may need to go through understanding valuations. The market decides the value of a business and votes with its money. How is a business valued? Few factors - growth in rev, profit growth or loss narrowing, growing Free Cash flow, ability to grow net retention rate, clear sizeable target Addressable market, etc. And the market is willing to pay up front for a future value because the business is supposed to provide a return either through dividends or stock price appreciation.

So unless the business completely fails, there is a certain value tied to it that the market is willing to pay for it. That is where you as a discerning investor has to decide where this price lands - with the macro factors in mind. All things constant - you are not up against a fixed price target, but one that is moving. It is constantly shifting with market dynamics and information asymmetry. There will be someone who knows something more than you. There will also be someone who knows something lesser than you. There will be someone who is willing to pay more than you. And someone who is willing to pay lesser than what you paid for. What you're up against will always be that dynamic confluence of factors intermingling to give you the current market price. Before you ask "Is the price good?" You must always ask "Is this business growing and sound?" Most folks ask the wrong question and put cart before horse. They only ask the latter AFTER their stock gets shot! So if the business is growing and doing well, then the next thing is price - entry and exit. You can never call a bottom. But you must pay attention to when a stock price has grown faster than its growing valuations in the midst of macro factors like interest rates, etc. Don't get caught up loving stocks and becoming a perma-bull. At some juncture, that business will be managed by a clown and that is it. You don't want to be a bag holder! But if fundamentals remain, keep dollar cost averaging, and scale into highest conviction ones. You'll excel if you remain invested over the long term. Don't be impatient in growing wealth.