Who Are You?
A few of my many takeaways from reading the great book " The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) ": I am a defensive investor. A defensive investor attempts to minimize losses by buying quality, bargain stocks when they are on sale. I don't get irrationally exuberant or overly pessimistic about the market. I cannot accurately "time the market" or predict the future. But I can study to try and determine when quality, bargain stocks are on sale. The years 2002, 2007, and 2020 had super Low Tides and, if you had bought stocks during these super Low Tides you would have achieved MUCH higher returns than at any other time in the last 20 years. The future is impossible to predict but you want to be positioned to take advantage of the next inevitable Low Tide . There are usually 6 to 7 mini Low Tides each year and I'd rather buy during Low Tides than High Tides . Knowing who you are w