FYI: SUCCESSFUL INVESTING IS SIMPLE, but it’s rarely easy. Yet millions of investors, both professional and amateur, assume they know what they’re doing. “We live in this mystical state where everybody thinks they can practice finance,” notes William Bernstein, retired neurologist and author of a fistful of acclaimed finance books. “But you shouldn’t practice without understanding the science of finance.”
Happy Easter & Passover,
Ted
http://www.humbledollar.com/2018/03/four-pillars-investing/
Comments
The referenced Bernstein book is excellent, it is well worth the reading time.
Beating the market is the target goal of most investors. The accumulated historical data demonstrates that most of us fail that seemingly easy goal. And that includes the professional class. That's the sorry truth. Here is a link to the annual extensive S&P persistence scorecard that documents our poor performance record:
https://us.spindices.com/documents/spiva/persistence-scorecard-december-2017.pdf
Staying the course seems to be the most productive strategy. Less time and fewer trades deliver better outcomes. For some of us, that's a difficult non-assignment.
Best wishes, good luck and try hard to stay the course.