Joe V

The Perils of Long-Term Investing

Well, it looks like you've incurred the ire of die-hard LTBH-ers :) I enjoyed the article. The most compelling part was the last paragraph, about the importance of monitoring the price/value relationship.

I don't intentionally short-term trade. I concentrate on fundamentals, not price action, so my actions tend to move at a "quarterly", not daily, pace. But everything I own is for sale <b>every day</b> if the price offered allows no more room for outsized returns relative to estimated value. Long-term, short-term, it doesn't matter. Concentrate on price vs. value and the term takes care of itself.