An investor’s super power
“As a long time financial advisor and portfolio manager, I have come to the conclusion that the Holy Grail portfolio is the one you can stick with.... Great investors find a strategy that is appropriate for them and then stay loyal to that portfolio for better or for worse.”
– Cullen Roche, in a 2/14/24 article on his Discipline Funds site. Read more at bit.ly/3SSkjQk.
The lessons of history
“The Vegas-like dopamine hit of making money quickly, along with a generous helping of FOMO [fear of missing out], is what drives people who usually pay very little attention to the stock market to start talking about things like AI stocks...and whether it’s too late to buy Nvidia or Tesla shares for their kids or their retirement portfolios.”
– Alina Fisch, founder of Contessa Capital Advisors, in a 2/24/24 post on her blog, The Contessa Counts. She cautioned against playing “the stock-picking game.” Read more at bit.ly/3SKNSTO.
At the top?
“We can’t say with any certainty...that stocks are at a market peak. [But we can say] with complete certainty that present conditions mirror what a market peak looks like.”
– Hedge fund manager John Hussman in a 2/25/24 post on the Hussman Funds website. Read more at bit.ly/3wCsNn8.
Times have changed
“Though the stock market is massively larger than it was in our early years, today’s active participants are neither more emotionally stable nor better taught than when I was in school. For whatever reasons, markets now exhibit far more casino-like behavior.... The casino now resides in many homes and daily tempts the occupants.”
– Warren Buffett, in his latest Berkshire Hathaway shareholder letter, published 2/24/24.
Buffet also payed homage to his longtime business partner, Charlie Munger, who passed away last November.
“In the physical world, great buildings are linked to their architect while those who had poured the concrete or installed the windows are soon forgotten. Berkshire has become a great company. Though I have long been in charge of the construction crew; Charlie should forever be credited with being the architect.”
Read more at bit.ly/3I9vlvP.
Now or later?
“When we stand before God, I don’t believe He will say to us, ‘I’d like to say well done, but you really blew it when you gave me all that money rather than hanging on to it a few years longer.’”
– Randy Alcorn, in a 2/26/24 post on his Eternal Perspective Ministries website. He argues for “Givin’ while you’re livin’” rather than leaving large sums to charity through a will. Read more at bit.ly/48ynXEK.
