"You have to be prepared for a Stock do drop 50%" - Warren Buffett

Recently a lot of stocks dropped by high double digits % points and a lot of people do not know how to handle this situation. In the following clip warren Buffett explains that you have to be prepared to hold stocks long term and that you have to be mentally and financially prepared to survive a 50% or more drawdown.

He points out that it even happened to berkshire a few times. Long story short here is Buffett's vidw on the subject