Stick with your plan
“If you are going to do better than most, it won’t be by continually anticipating a market crash. That has invariably been an exit ramp onto a dead end street. Tuning out noise and consistently following investment rules and hard data is far more challenging than it sounds, but the performance of those that do it can be in the top 5%.” – Urban Carmel, writing in The Fat Pitch about the importance of following an objective investment process. Read more
Not everything that matters can be measured
“You can measure everything about a bubble except the most important part: When investors will stop believing in it. The end of the bubble is just the end of enthusiasm. And enthusiasm isn’t a tamable statistic. It’s a hormone that owes nothing to the logic of your data.” – Morgan Housel, suggesting on the Collaborative Fund blog on 7/5/18 that spreadsheets and statistics will only get you so far. Read more
