I previously discussed the foolishness of attempting to time the buying and selling of securities. How, occasionally, investors can luck out in their efforts. But this success is accidental, and they most often never get back into the market in time.
And that my observations confirm this, having now studied 1,600 investing strategies over the years, along with their pros and cons.
More importantly, I have investigated the discipline of strategy use. Discipline is much more essential than strategy usage and prevents upsets of the market plans of the overwhelming majority of investors.
Iron-clad discipline must be part of each strategy. The reason to buy a security has to be an integral part of the eventual, consistent reason to sell.
That discipline isn’t easy to maintain when you have to contend with media noise, produced by a storm of opinions, most of which are salesmen-oriented, or inaccurate, or biased.
Accomplish that and you have investing odds in your favor. ( See the Earl J Weinreb NewsHole® comments.)
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