“The odds change as our position in the cycles changes. If we don’t change our investment stance as these things change, we are being passive regarding cycles; in other words, we’re ignoring the chance to tilt the odds in our favor.
The sweetest gain in equity investments is a cost basis gain. This is a day when the market's increase in value is more than the amount paid for the security (cost basis).
Owning quality stocks with solid fundamentals at reasonable prices over the long term is essential.
