The Enemy is…
Who do you think the investor’s worst enemy is?
I will rely on 2 learned folks to answer this question…
“We have met the enemy, and he is us.” – Pogo Possum
For me as an investor, it’s me…For you as an investor it’s you…
“The investor’s chief problem and even his worst enemy is likely to be himself/herself.” – Benjamin Graham
A bonus from Warren Buffett – “It won’t be the economy (or the stock markets) that will do in investors; it will be investors themselves.”
As Nick Murray wrote – “Permanent Loss in a broadly diversified portfolio of quality equities held for the long term is a MYTH. That in fact when permanent loss occurs, it is always a human achievement, of which the equity market itself remains incapable”.