Smell of Desperation, page-65

To be fair, a genuine investor would only invest money they can afford to lose. The long term game requires careful long term planning, therefore, dips are expected and cannot disrupt (but can sometimes enhance) your plan. That's not to say there are no scenarios where a long term investor needs to withdraw their funds suddenly, but they are so rare they should not be accounted for in the general purview of investing.

For the most part, Traders get emotional with dips, whereas the long term investor has already prepared for them a long time ago, with dry powder ready and waiting.