S&P 500 intra-year declines vs. calendar-year returns
Despite average intra-year drops of 13.8%, annual returns positive in 29 of 38 years.

This could be the best educational graph of all time. Yes, volatility exists and shows its face consistently. What else is consistent? The positive return of high quality companies! Despite average intra-year drops of 13.8%, annual returns positive in 29 of 38 years.