Nov 5 2018 – Morgan Housel – Collaborative Fund
Every past decline looks like an opportunity, every future decline looks like a risk.
There are investments out there that never get wild. They are called FDIC-insured savings accounts and they produce the exact return you deserve. “Occasionally wild” is the cost of “eventual gains.”
The biggest factor affecting market returns over a short period of time are changes in investor moods. And moods don’t care about spreadsheet, reasoning, formulas, or metrics. They make fools out of those who try to predict them.