Long term investing is easy. However, there is a lot of distracting, short term investment advice floating around these days. One of the most popular cliches is to, “buy low, sell high.”
Sounds like a winning proposition, but there is a problem with that strategy. No one knows when the market (or a stock) is “low” and when the market (or a stock) is “high.” Better advice is to “buy now, sell much later.” In other words, focus on long term investing and ignore the day to day. This way, you will guarantee you are buying low (now) and selling high (in the much distant future).[Read more…] about Don’t Look at Your Investments! Focus on Long Term Investing.