Market volatility can be nerve-wracking, especially when large crashes occur.

While some may be excited by the chance to find a rare opportunity, most investors are more concerned about steadying the boat and minimising their losses.

A move to cash in that situation sounds safe and familiar.

But when? Are we about to see a bounce back, or is there still a long way down?

And for how long? When are things going to improve? When do you feel comfortable to go back in?

Timing the market is hard. No one has the answers when it comes to the current crisis. But we do know what happened in the last one.

Let’s go back to 2009 as an example, and the approach of two different investors.