Developing an Investment Discipline That Will Achieve Our Goals: For the Diligent Student and Practitioner, Investing—Like Any Skill—Can Be Perfected; Matching Our Investment Strategy with Our Goals Is Paramount
Over my thirty years as a professional investor I’ve heard every cocktail party stock tip and market timing success imagined; I’ve come to understand that with one hand wrapped around a highball, everyone’s a winner. Yet, if we listened to every hot tip or changed direction in the midst of big market moves based on casual advice advocated by friends or acquaintances, we would likely chase our tales right into bankruptcy. The only sure way to ensure we really do win over time is to stay the course we establish based on our personal and family objectives and to acknowledge that no investor or investment discipline can, or will, be right during every short-term period. If we adopt a strategy that lines up with our long-term goals and our investing temperament we are much more likely to succeed. So let’s begin by acquainting ourselves with the two primary stock investment style categories: growth and value.
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