FYI: So far as I know, no one has yet completely cracked the difficult problem of how to get people who say they are long-term investors to be long-term investors.
Most people who claim to have “a high tolerance for risk” just have a high tolerance for making money. As soon as the market goes down, their tolerance for risk shrivels and their idea of “the long term” withers to “a week or two.”
Regards,
Ted
http://jasonzweig.com/tie-me-down-and-make-me-rich/
