Investing for the long term
Barry makes a lot of sense in his latest column, but then again he always makes good sense.
“Watch a pro football game, and it’s obvious the guys on the field are far faster, stronger and more willing to bear and inflict pain than you are. Surely you would say, ‘I don’t want to play against those guys!’
“Well, 90 percent of stock market volume is done by institutions, and half of that is done by the world’s 50 largest investment firms, deeply committed, vastly well prepared — the smartest sons of bitches in the world working their tails off all day long. You know what? I don’t want to play against those guys either.”
Yes, that’s what I do. I get out of the way and invest for the long term. My strategy? It’s very boring! I dollar cost average in low cost mutual funds that are spread around various market sectors, with risk appropriate for my age. I’ve kept my debt low and my savings high. That’s the only way someone can make money consistently.