It's a fundamental concept; the longer you can stay invested, the better your odds of generating robust wealth-building returns.
In other words, time is an edge.
This has long been true about investing in a broadly diversified portfolio of stocks. Even the newest platform where you can get lots of unsolicited financial advice – TikTok – has viral videos of young investors explaining the phenomenon.
I know it almost seems silly to bring up. But, it's easy to ignore or forget this truth during periods of volatility, when it can feel like the best move is to take your money out and run.
Unfortunately, for those who can't resist but attempt to time the market, it's almost impossible to correctly predict if and when the stock market will go down. And once you're out of the market, there's a high risk you'll miss out on significant gains, which can prove incredibly costly in the years to come.
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Howard Marks, co-chairman of Oaktree Capital, wrote in a Jan. 13 memo: "Reducing market exposure through ill-conceived selling – and thus failing to participate fully in the markets' positive long-term trend – is a cardinal sin in investing,"
I'll make no bones about it; the stock market is unfortunately far more treacherous when you're investing on short time horizons.
But for those of us with long time horizons, history has consistently proven that the long game has been undefeated.
I understand that it's easy to interpret me as routinely leaning bullish. But there is a good reason for that. If you're willing to invest for the long haul, the opportunities to build significant amounts of wealth are immense.
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