Welcome to new subscribers! Here is an excerpt from "Beat the Bank: The Canadian Guide to Simply Successful Investing" that you may find quite timely:
"The stock market is surely among humankind's greatest inventions. The most powerful wealth machine ever built, the stock market makes business ownership available to anyone with even modest means. In the past, wealth creation through ownership of large businesses was the exclusive realm of the wealthy. Today, wealth creation through ownership of large businesses is open to anyone who has a few thousand dollars to invest.
Simply Successful Investing requires one single bet. Is it a bet on the stockmarket? No. It is a bet through the stock market. Long-term business ownership through the stock market is a bet on the continued ingenuity, dynamism, growth, and prosperity of today's North American businesses and tomorrow's budding entrepreneurs. It is a bet on continued wealth creation and the astonishing power of compounding. Ignore the relentless purveyors of pessimism and remember that those who have made this bet in the past have never lost in the long run. Never! Simply Successful Investing is about (i) being relentlessly optimistic regarding the long-term future and (ii) ignoring the short-term 'noise' of the markets.
As a long-term investor, you are not a stock market player. You are a business owner. And business owners don't waste their energy fretting about daily changes in the 'market value' of their businesses. They get on with their lives and so should you. Imagine owning stocks and not caring, or at least caring very little, what the market does from day to day and from month to month. Think about the potential benefits this business ownership mindset creates: less anxiety, greater confidence, enhanced peace of mind, more freedom to live your life, and a very high probability of a more prosperous future!"
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