Volatility is a function of the market. It is also a friend to the long-term investor. Warren Buffet had a great description of the market: “The stock market is a highly efficient mechanism for the transfer of wealth from the impatient to the patient”.
The typical emotional response to a falling market is to sell. Conversely, the typical emotional response to a rising/recovering market is to buy. This is the exact opposite way to make money in the stock market. By remaining patient, you allow fickle investors, who let emotions dictate their investment decisions, successfully transfer their wealth to you.