flee from stocks at every dip or attempt to time the market. Sound investing requires you to conduct research on your investments, stay abreast of market trends, and work with your advisers to craft a plan for each stage of your life. Keep in mind that asset diversification is an imperative.
In fact, that’s the way billionaire investors such as Warren Buffett and Michael Lee Chin have built their fortunes. Wealthy people tend to be buy-and-hold investors who focus on a few quality stocks they can purchase at bargain prices and retain during tough times. Investing is not an emotional exercise but rather it is one based on sound principles.
No one has ever become wealthy by running for cover in bad times. Intelligent investing that emphasizes discipline, patience, and diversification will ultimately put you in a better position to achieve your financial goals—in any market.