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"These are the times that try men's souls." With those words, Thomas Paine captured the fears and uncertainty surrounding the early stages of the American Revolution. His words also have meaning for us as we struggle through the worst bear market since 2000-2002. It's a difficult and painful time to be an investor – or an investment adviser. The best approach is to maintain a focus on the long-term. Short-term fluctuations – both up or down – should not determine your investment strategy. If you have a well thought-out strategy with broad diversification, you will do fine in the long run. The most important thing is not to do something rash like sell everything and move to cash, or try to double-down to make up for your past losses. Patience is an exceptionally valuable virtue when it comes to investing.

The good news for people who are contributing to a 401(k) or other qualified investment plan is that you're reaping the benefits of dollar-cost averaging. You're buying more shares of mutual funds at lower prices. That may sound like poor consolation but, in the long run, that's how portfolios are built and wealth is created.

So what's the answer to the question posed in the title of this blog? It's twofold. First off, don't try to hide. Markets change dramatically and unexpectedly. If you're out of the market, you won't benefit when the upturn happens. Secondly, you don't need to go somewhere else if your strategy is solid. The markets have never moved in a straight line up or down. Portfolios that are positioned for a major upturn or downturn are doomed to failure.

Our Founding Fathers were rightfully scared about taking on the mighty English, but they didn't panic. And neither should you.