Warren Buffett's words are so fitting for today's stock market crash: 1. Be mentally prepared for a 50% plunge Before buying stocks, ask yourself: if the stock price gets cut in half, can you still sleep at night? 2. Never trade stocks with borrowed money Those who borrow money or leverage up will be completely wiped out at the lows. 3. If you can't conquer fear, stay out of the stock market If you can't mentally handle volatility and are easily influenced by others' opinions to chase highs and sell lows, then you're not suited for stock trading. 4. Only buy assets you understand Don't blindly follow others' advice. 5. Forget the short term, think in 20-year horizons No one knows if the market will go up or down next Monday, but if you extend your view to 20 or 30 years, time will naturally give you the answer.