Holding is the hardest part because it combines ALL the feelings & potential regrets that can arise from both buying & selling.
Buying is the easy part of buy-and-hold.
Anyone can buy-and-hope.
It’s the hold part that’s hard.
It was easy to hold onto stocks in 2023 & 2024, as Global Equity Markets rose 24% and 19% in back-to-back years.
This year is much harder.
Volatility is up.
Uncertainty rises by the day.
Confidence is shaken.
I don’t know what’s going to happen but I do know that abandoning my investment philosophy is not going to help matters.
The investment strategy I choose to implement has much less bearing on my performance than actually sticking to a long-term plan no matter what happens in the market.
I am always a proponent of the idea that less is more, but even more so during turbulent markets.
The best risk control I have right now is knowing what I own & why I own it.
It’s much more difficult to stick with a complex strategy because it’s harder to understand.
Yes, I can more easily lean into the pain when I know what I am buying, holding & why.
Equity Investing = You don’t get the reward without taking the risk.
How has your fortitude – the ability to ride out the drawdowns – been lately?
Have you made changes to your portfolio over the last weeks?
“It’s not the things you buy and sell that make you money; it’s the things you hold.” – Howard Marks
“You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.” – Charlie Munger
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Thank you for this great article — it’s rare to find content that’s not only informative but also easy to follow. The way you structured your points made it very engaging to read. I really appreciate the clarity and depth you’ve added here. It’s clear that a lot of thought and experience went into creating this, and it definitely stands out compared to much of what’s out there. I’ve been exploring similar topics recently and always value perspectives like yours that break down complex ideas into something practical. It’s content like this that keeps readers coming back for more. Looking forward to reading more of your work. Keep it up! AILBST
Thank you for this great article — it’s rare to find content that’s not only informative but also easy to follow. The way you structured your points made it very engaging to read. I really appreciate the clarity and depth you’ve added here. It’s clear that a lot of thought and experience went into creating this, and it definitely stands out compared to much of what’s out there. I’ve been exploring similar topics recently and always value perspectives like yours that break down complex ideas into something practical. It’s content like this that keeps readers coming back for more. Looking forward to reading more of your work. Keep it up! AILBST
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