Monday, October 16, 2006
When wishing beats investing
Some of the best investors spend most of their time not buying stock. Instead, they isolate superior companies and study them day in and out. Then, they wait. Eventually, a spike in oil prices or a miss in earnings will drive the stock price down - only then they buy. Everyone else seems to be doing the opposite. They focus on the ticks and let the market dictate them instead of letting the market serve them.