No pain, no gain
For a very long term buy-forget-and-hold investor its unlikely that gains accrue without a drawdown. I have shifted MFI investment in India to NBFCs, Home Loan and Gold Loan companies. Instead of selling Satin at 700+, more than double my purchase price or continuing to hold in the mayhem, I switched to above three type of companies at ~400.
Manish Dhawan actually called the right day and time when Satin bottomed at 323 on the 21st of November. Good call!
Many a long term gains have come with big draw downs. There is another position where I am down 35% from my buy price but I continue to buy without chickening out, i.e. NSE Kenya. You’ve got to be careful with financials (leverage), I lost 100% of my holding in the 4th biggest UK bank, Norther rock in 2008.
See the Apple and Amazon drawdowns, stocks that returned 252 and 388 times respectively.