Here are a few timeless guidelines we think will help you walk along the path of investment success:
• As a result of continual advancements in science, technology and innovation, the long-term trend for stock prices has been and very likely will continue to be upward. It’s not enough to say this; you have to truly believe it.
• The best times to buy are when prices are low, but prices are low when there are obvious dangers and risks. Put differently, buying low means buying when most people, including you, are scared.
• A corollary: If an investment is popular, it is very likely high priced. Buying high is not the best investment strategy.
• The economic crisis of the day is temporary, but the pain of missing the investment performance boat can be permanent.
• If you think the average investor can find useful investment information in the newspaper, you are an optimist.