If you feel foolish for not selling in the last big downturn, it may be because you project this decline will be like that one.

FORBES: Take Measured Steps Toward Growth

Also, the experience of Ireland's banks - where losses rose exponentially for month after relentless month following the 2008 crash - shows how foolish it is to ever assume that you've touched bottom when a massive debt-financed property bubble has been pricked.

BBC: Are any British banks still Premier League?