Cultivating a Long-term Attitude

Jul 1993 //
Cycles
History
Patience

…our ability to identify and participate in long-term economic changes will be the most important factor in our long-run investment success.  Rather than using our valuable time poring over the unpredictable short term, we’ll all benefit from a long-term attitude.  There will be another bear market sometime and then another bull market, and the unpredictably-timed cycle will repeat.  It isn’t realistic to believe we’ll be able to time the market’s overall movements, but it is quite realistic and important to invest with an eye toward benefitting from the steady diet of change our complex economy presents us.