Someone Monday night asked me how much money I “lost” in my investments, as the S&P 500 dropped 6 percent, the index’s worst day since December 2008.

My answer? I told him I didn’t lose any money, because I didn't sell any of my shares.

In fact, I will probably end up making money, because as a buyer in these “crisis” environments, I’ll start collecting dividends on some of my cash that was previously earning a paltry 0.25 percent interest rate while parked in a money market account.
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Don't try to time the market haphazardly, jumping into and out of positions.

Have 90 percent of your overall portfolio invested in conservative stocks, and 10 percent invested in aggressive stocks.

Save “excitement” for your vacations or the amusement park. Your investments should be boring and solid

Most of all — don't follow the crowd

Another question I was asked is if the market is overvalued like it was in 2000

The market isn’t overvalued this time around.

Multibillionaire investor Carl Icahn said recently "the selling is overdone," and he is right.

He also mentioned corporate balance sheets were very strong. Johnson & Johnson (JNJ), Microsoft (MSFT), and Cisco (CSCO) have almost $100 billion combined in cash, and are strong companies with pristine balance sheets.

My advice is to continue to collect your dividends from your current holdings, and make new investments into the bargains in the marketplace you feel fit your own personal investing parameters.

As for the market, I expect more wide market swings. Be patient and realize that the market is here to serve you and not guide you.

About the Author: Bill Spetrino
Bill Spetrino is a member of the Moneynews Financial Brain Trust. Click Here to read more of his articles. He is also the editor of the Dividend Machine. Discover more by Clicking Here Now.