Thinking seven generations into the future
I was reminded yesterday, once more, of the need for a long view.
Louis Basenese of the Oxford Club, wrote yesterday,
It only takes 176 seconds for an untrained pilot to crash a plane if he flies into a cloud. The reason it happens so quickly is simple – the pilot ignores the gauges in favor of natural feelings. And the latter are almost always incorrect.
Today, the Dow was off 346 points. As such, I want to caution against trusting your natural feelings. Or you could similarly crash and burn your portfolio.
So before I tell you what I think’s going on, let me be clear: Don’t act hastily and bail on your investments. Instead, stay the course. . . .
As long-term investors, we needn’t concern ourselves with what the market does from one day to the next. That’s because such a small window of time has little impact on the underlying fundamentals of the companies [we own].
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Sincerely,
John Holzmann
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