The true investor welcomes volatility... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.
The true investor welcomes volatility... a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses.
The market is a pendulum that forever swings between unsustainable optimism (which makes stocks too expensive) and unjustified pessimism (which makes them too cheap). The intelligent investor is a realist who sells to optimists and buys from pessimists.