Time Is Your Friend
Warren Buffet, the legendary business owner, said, “Time is your friend. Impulse is your enemy.” He was referring to the value of compound interest and the suggestion to not make quick investment decision based on how you feel at any one moment. I seem to be reminding clients of this wisdom a great deal these days. It’s easy to be distracted by the siren song of whatever drama is happening in politics, the latest natural disaster news or human tragedy. And many of these are important at the moment, but in order to be a successful investor, you must have a long-term perspective.
The next time you are tempted to move off your investment course, remind yourself that time is your friend. Maybe that will help you avoid your enemy.