I was really lucky -- at least I think I was lucky -- that I was so engrossed in my work last Thursday that I didn't hear about the steep market plunge until after it was all over and the market had, for the most part, recovered. That evening, we were out to dinner and the entire restaurant was abuzz with what might have caused the plunge, and whether or not it's still "safe" to invest in the stock market.

As a long-term investor, here's my question: How concerned should we be? Is it naive of me to think that market panics -- whether they last a day, a month, or a year -- are really the concern of short-term investors?

And what role do you think the SEC should have in last week's plummet? Should there be tighter regulations and oversights, or will these things happen from time to time, no matter what safety measures are put into place? Is it just the nature of the beast?

Almost nothing. I say "almost" because it creates angst in the mind of many investors. As a result they may hesitate to invest. They are harmed because investing is of paramount importance for their financial well being in the future. We are harmed because we can get caught up in the psycology of the market and find it hard to buy when everyone else is selling--"What am I missing" is a question that undoubtedly comes to mind under those circumstances.

It's ironical that those who haven't learned to invest are more likely to stay away and hurt their financial future. Those of us who understand that the market is at times illogical aren't troubled by the "glitches" and continue to invest--in fact take advantage of the buying opportunities presented during the troubled times.