“All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.”
To many people, the clichéd image of someone who invests in the stock market is the Gordon Gekko type: someone in red braces, frantically shouting “Buy!” or “Sell!” into a telephone (usually along with several expletives). The reality should be very different.
Sensible investors should stay as far away from that sort of frantic action as possible. There should be no quick decisions to be made and no sweat-soaked brow to be mopped as you battle with the market.
My favourite analogy for managing a portfolio is gardening, where things need to be done on a regular basis if the garden is to flourish, but there ...