Quote:
Originally Posted by MoparCar
Thanks-I had assumed that was your take but wondered. I need to train myself to look way out in time and forget the noise as you've mentioned. The media tries its best to magnify every up and down in the market.
Investing......
Wes
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Investing isn't gambling.... Yeah - market goes up - market goes down.... but if you look at those long term charts... then you learn to ignore the noise because that's all just a distraction.
Look at it like you bought a large class A apartment complex... it's paying you good cash flow... You don't trade that just because the market is off this year, it's still paying you to own it.
This is why I say "buy best of breed" stuff that you don't have to follow the market value every day - or even every month. While I look - listen and learn - and keep my eye on the ball --- It's more just to occupy my time than looking to see that I'm down $2.00 on a $100.00 stock "today". The day after I sell at $98 -- it'll jump to $101. In the meantime - it's paying me $5.00 a year just to own it. After 10 years I've taken $50 out of the stock -- and after 10 years it's most likely worth $175....
People that want to get rich quick are always in the poorhouse.