Recent Bluestone Memos
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Warren Buffett’s partner, Charlie Munger, says it best:
“The big money is not in the buying and selling, but in the waiting.”
If someone tells you investing is exciting, doubt their strategy. Done well, investing is about as exciting as watching grass grow.
We own well managed Mutual Funds and Managed Portfolios; the secret to securing wealth is waiting.
That’s it?!? Wait?!? Yep. Wait. Not very sophisticated is it. Just wait. And wait. And when we get tired of waiting…well…sorry…we just have to keep on waiting. The way to secure wealth is the way Charlie says, “the big money is…in the waiting.”
Waiting is easy, even enjoyable, when the economy is strong and stock markets are rising. However, waiting can be challenging in times like these when stock markets are volatile and trending down.
And the media adds to the challenge by repeating, over and over, all sorts of negative “news”. They go on and on about a supposed weakening economy, Mutual Fund fees, countless risks, global trade wars, etc. etc.. Most of it is just noise, negative noise, best ignored by investors who know better.
We own solid investments, and we are securing wealth Charlie’s way: by waiting. Thank you Charlie. And thank you to our wise clients who are patiently waiting.
This memo was prepared solely by Terry and Patty Rempel who are registered representatives of FundEX (a member of the Mutual Funds Dealers Association of Canada and the MFDA Investor Protection Corporation). The views and opinions, including any recommendations, expressed in this memo are those of Terry and Patty Rempel. Bluestone Financial is a personal trade name of Terry and Patty Rempel.