I agree, however this story is about options, which are realized gains or losses. Real actual losses on other gains, in which you may not have put aside for tax. This can be a real problem.

The fluctuations on a 401K really are only significant if it occurs during a time in which you are relying on those funds, near or at or during retirement. Nobody with a 401K 'lost' anything in the last few years unless they withdrew from it.