Most investors today have become accustomed to the idea that stock prices just keep going up. Even when there have been corrections over the past few years, they’ve been retraced pretty quickly on the way to new highs.

Not much time is being spent worrying about the downside of investing in stocks.

Warren Buffett has spent the last several decades explaining why pullbacks aren’t necessarily a bad thing. In fact, investors might even actually want one every once in a while.

In his 1997 letter to Berkshire Hathaway (BRKA +0.63%)(BRKB +0.67%) shareholders, Buffett indicated that long-term investors should hope for multiple opportunities to buy stocks on sale. Only those nearing the withdrawal stage should really be rooting for a rally….