Buffett’s words are highly relevant to today’s market crash: 1. Prepare mentally for a 50% decline. Before buying stocks, ask yourself: If the price were to drop by half, could I still sleep at night? 2. Never use borrowed money to invest in stocks. Those who buy on margin or leverage will be completely wiped out at market lows. 3. If you can’t overcome fear, stay out of the stock market. If you’re emotionally unable to handle volatility and easily influenced by others to chase gains or panic-sell, you’re not suited for stock investing. 4. Only invest in assets you truly understand. Don’t blindly follow others’ advice. 5. Forget the short term—think in terms of 20 years. No one knows whether the market will rise or fall next Monday, but if you extend your perspective to 20 or 30 years, time will provide the answer.