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Long term is more about flexibility

A long term horizon with a set end date is as reliant on chance as a short time horizon. You don't know what the world will look like in ten years' time.

A superior view has a flexible end date. It is true that time is compounding's magic. But the odds of success is deepest when you mix a long time horizon with an indefinite end date. The more flexibility you have, the less you need to know what is up next.

124

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MORE IDEAS ON THIS

It's hard to know how you'll react to decline

You may feel that everything will be fine if stocks fell 30%. You may even see it as an opportunity.

But stocks fall 30% because there's a collapse, a terrorist attack, or a pandemic. In that context, you may instead switch to a survival mindset and not have the endurance ...

123

421 reads

Patience is often stubbornness in disguise

The world constantly changes, which makes changing your mind essential. Long-term thinking can become a crutch for those who are wrong but don't want to admit that something used to be true, but the world moved on from there.

Doing long-term thinking means identifying when you're patient o...

130

483 reads

Your belief in the long run isn't enough

Your investors, coworkers, spouses and friends have to sign up for the ride. Being right is one thing. But you also need to be able to convince those whose support you rely on.

An investment manager who loses 40% can tell his investors, "We're in this for the long run,...

125

449 reads

Dan Quisenberry

"The future is much like the present, only longer."

DAN QUISENBERRY

135

740 reads

Long-term thinking

Long-term thinking

Long-term thinking is more challenging than most people imagine. It is then also more lucrative than many people think.

The long run consists of a collection of short runs that you have to put up with: recessions, bear markets, meltdowns and surprises. Ins...

223

3.01K reads

CURATED FROM

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paupau

Sometimes, all you need to do is look at things from a different perspective.

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