🧠 Busting This Investing Myth

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Welcome to Long-Term Mindset, the Wednesday newsletter that helps you invest better.

Today’s Issue Read Time: <3 minutes

  • Lesson: What dogs can teach us about investing
  • Timeless Content: The Power of Mission Statements
  • Thread: Why investors fail
  • Resource: Minimizing investment taxes
  • And more!

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My family [Stoffel here] just got our first dog. We named him “Donut”.

Last week, Donut was introduced to snow for the first time. He was so excited I threw on his retractable leash, and we went for a walk in untouched snow.

When we were done, I peered at our backyard. His tracks went like this:

This looks like a puppy making his way — completely randomly — across our yard.

But I could also see my own footprints, and they followed a more predictable path.

All of a sudden, Donut’s path seems less random.

But there’s an added layer: Donut and I were tethered via the retractable leash. At three points, I had to yank him away from a squirrel.

When 90% of people look at the stock market, they think it’s akin to gambling. Stocks seem to go up and down randomly.

And over the short term, they’re right just as Donut could randomly wander in any direction within the radius of the leash.

But over the long run, it’s a foregone conclusion that Donut and I would arrive at the same location.

The same is true in the stock market.

Over the short-term, anything can happen. But, over the long term, a stock and the performance of the underlying business will converge.

This is why we spend little time worrying about the day-to-day movements of stocks. That would be like us caring very deeply about Donut’s next random step in the snow.

Instead, we pay close attention to the long-term financial performances of the companies we own.

This is precisely why we named our newsletter Long Term Mindset. It’s a reminder to keep our attention focused on what matters most.

In truth, this mindset is the only edge we hold as individual investors. Luckily, in the end, it’s the only advantage we need.

Wishing you investing success,

– Brian Feroldi, Brian Stoffel, & Brian Withers

P.S. If you’d like to learn more about financial statements — the building blocks of long-term investing success — check out our upcoming course on advanced financial statement analysis.

One Simple Graphic:

One Piece of Timeless Content:

We are strong believers that clear mission statements are critical to business success. Learn what we look for in company mission statements from this article by our own Brian Stoffel.

One Thread:

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Brian Feroldi

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9:45 AM β€’ Dec 4, 2022


One Resource:

Taxes on your investment gains can be confusing. It depends on many different factors. This article covers the basics that all stock investors should understand.

One Quote:

More From Us:

πŸ“— If you’ve read Brian Feroldi’s book, he’d love a review.

πŸ‘¨β€πŸŽ“ The next cohort of our Advanced Financial Statment Analysis course starts in March! Click here to get on the list to learn more.