Regret is the most enduring emotion in the lives of most equity investors. Because sooner or later, they make the mistake of getting out of a falling equity market, only to see it turn around and rise, three years out of four, and for the rest of their lives. Some get back in much higher; others never get back at all. This process gets repeated during the next bear market and the next. No matter: the pain of regret is with them forever. Nor does the passage of time heal the pain. If anything, time and relentlessly higher prices make it worse. There are, after all, only two master emotions: love and fear. When markets are falling, investors fear permanent loss; When prices go up, investors fear missing out, and envy (another face of fear) those who seem to be getting rich. I say again: that isn't "greed". It's just a different form of fear. Don't envy the harvest of the rich. Envy their pl anting. - Bo Sanchez. Many years ago, there was a detergent adve...
Our amazing capacity to do good for people who trust us (and for their heirs), and our ability to integrate investments into a total financial plan, these are the essence of the wonderful profession we've chosen. And perhaps the most important thing is: you'll never have to worry anymore.