SRS - Closing status 26 July

Invested into Croesus Retail Trust 3 lots in this week under SRS portfolio.  Only less than 1% of leases are subjected for renewals in years 2013/2014; and 26% of leases are for renewals in year 2015.  Unless l am stuck with my investment so l do not really worry of year 2015.  However, so long that it can generate dividend yield better than bank deposit rate for my investment costs in it of $2.9k so l am fine with a forced passive income investment.  Based on my investment costs in it and dividend rate of $0.0739 so l can expect an annual dividend yield 7.7%.

Sold away Sin Heng Rights of 3,750 shares in this week for a proceeds of $145.

Divested Frasers Centrepoint Trust  (FrasersCT)  2 lots for nett gain of $42.  The divestment happened before it is going XD on 29 July but unfortunately it was slightly lower by 73% of the full dividend amount; 2 lots x dividend rate $0.0285 x 0.73 = $42.   Payment of the dividend will happen on 29 Aug so, l have already collected its dividend amount in advance.  On a side note however, this week's divestment is the third time of divestment on FrasersCT within July month under SRS portfolio so, in total l have collected $127 (1st divestment $44 + 2nd divestment $42 + 3rd divestment $42) of advance dividend and it is 2.2 times more ---> 2 lots x dividend rate $0.0285 x 2.2 = $127.

Divested Mapletree Logistics 6 lots in this week under SRS portfolio for $111 nett gain.  It declared dividend rate $0.018 last week for its 1Q14 results so expected dividend amount is 6 lots x $0.018 = $108.  The $111 nett gain is almost par to the full dividend amount and l have already collected it in advance as its actual payment date will only happen on 29 Aug.

Also in this week under SRS portfolio, l have divested away Singapore Post 10 lots for $160 nett gain.  Assuming that its next dividend rate is $0.0125 and XD on 14 Aug so, the expected dividend amount is 10 lots x dividend rate $0.0125 = $125; and also assuming that it has same payment date as last year on 31 Aug.  The nett gain $160 is higher than the expected dividend amount and l have already collected it in advance with this divestment.

Portfolio walk since previous posting :-

+$7,192 Total Returns as of 19 July

+$458 Gain on sales of Sin Heng Rights, Fraser Centrepoint Trust, SingPost, Mapletree Logistics

+$9 Unrealised positions improved

+$7,659 Total Returns as of 26 July

previous posting :- SRS - Closing status 19 July

CPF - Closing Status 26 July

Divested Cambridge Industrial Trust 13 lots in this week under CPF portfolio at $143 nett gain.  Per its 2Q13 results announced in this week, dividend rate $0.0124 has been declared which will XD 30 July and its payment on 9 Sep.  The $143 nett gain was 89% of the full dividend amount $161 = 13 lots x dividend rate $0.0124 x 0.89.   The nett gain amount is slightly lower comparing to the full dividend amount but l have already collected its in advance and not having to wait till 9 Sep for it.   

Decided to divest away Starhub 2 lots in this week for a $106 nett gain.  Its next dividend is estimated to XD on 15 Aug and its dividend rate very likely remaining the same at $0.05.  For 2 lots, l should be getting dividend amount of $100 = 2 lots x dividend rate $0.05.  The $106 nett gain is slightly higher than the expected dividend amount and l have already collected it in advance.

Portfolio walk since previous posting :-

-$7,244 Total Returns as of 19 July

+$249 Gain on sales of Cambridge, Starhub

+$707 Unrealised positions improved

-$6,290 Total Returns as of 26 July

previous journal :- CPF - Closing Status 19 July

Cash - Closing Status 26 July

Reduced Suntec Reit 1 lot in this week under Cash portfolio so my total holding in it now at 5 lots.  The divestment happened before it went XD on 25 July and it generated $22 nett gain; which is also the amount l am supposed to get paid (1 lot x dividend rate $0.02249 = $22) on 23 Aug.  But l have already collected its dividend in advance with this divestment and also freeing up funds for other investment opportunity.

Reduced my holding in Singapore Post 6 lots in this week for a nett gain $80.  Assuming that its next dividend rate is $0.0125 and XD on 14 Aug so, the expected dividend amount is 6 lots x dividend rate $0.0125 = $75; and also assuming that it has same payment date as last year on 31 Aug.  The nett gain $80 is higher than the expected dividend amount and l have already collected it in advance with this divestment.

Also for my cash portfolio this week l have divested Frasers Centrepoint Trust  (FrasersCT)  1 lot for nett gain of $35.  The divestment happened before it went XD on 29 July and it is higher than the expected dividend amount l am supposed to get paid (1 lot x dividend rate $0.0285 = $29).  Payment of the dividend will happen on 29 Aug so, l have already collected its dividend amount in advance.  Its share price has gone up higher after l have divested it away but l am still okay with it as it is an exit selling price l have set - to be profitable and matching the dividend rate declared or assumed, if possible.  Even if l have divested it away lower than the expected dividend amount l will still be okay as it freeing up funds for other investment opportunity and it is better than bank deposit rate, if possible.

Added Mapletree Greater China Commercial Trust (Magic) 3 lots in this week under Cash portfolio.  Its current share price stayed almost flat versus last week and is around 1.6% above its IPO price at the moment.

Portfolio walk since previous posting :-

+$2,271 Total Returns as of 19 July

+$138 Gain on sales of Suntec Reit, Frasers Centrepoint Trust, SingPost

+$681 Unrealised positions improved

+$3,089 Total Returns as of 26 July

Previous posting :-Cash - Closing Status 19 July

Cash - Closing Status 19 July

Added Far East Hospitality Trust 5 lots in this week under Cash portfolio before it went XD on 18 July.  So my total holding in it now at 6 lots and l can expect dividend amount of $114 = 6 lots x $0.019 when it is paid out on 11 Sept.  The dividend amount of $114 is equivalent to 2.0% returns based on my investment costs in it.  Meanwhile l have a choice of continue holding onto the 6 lots till its share price break even which is when l can divesting it all away in order to free up available funds for investment opportunities or continue keeping it as passive income investment.  The latter will happen when its share price stays below break even  and l am forced to participate into passive income investment; but it's will be a good problem to have due to its dividend yield which is way above bank fixed deposit rate at an invested funds of under $6k. 

Invested into First Reit 4 lots.  Its rental on Indonesia properties are pegged to SGD currency so there is no forex volatility issue.  However its rental in South Korea is in USD currency but it is only for one property so there is very little forex impact.  Earliest lease renewal is in year 2017 for a nursing home property in Singapore; after this, next property up for renewal will be in year 2021 so, there is stable stream of income for First Reit in the next eight years.  If its share price going south further then l will have good problem to deal with; l will be forced to participate into passive income investment which generates 5.9% returns based on my investment costs in it.  But if its share price improve and generates a returns better than bank deposit rate above 1% then l will liquidate all of it away so that (1) l can enjoy an accelerated passive income investment (2) l can move my funds into other investment opportunity.

Invested into CDL Hospitality Trusts (CDL HTrust) 2 lots in this week under Cash portfolio.  It has been close to one month now that CDL HTrust keeps trending its 52 weeks low share price level.  Will its share price going further lower from here.  No one can actually tell.  But any lower share price level is limited gut feeling wise.  Based on my investment costs in it and if l am stuck with this investment then l can expect a 6.7% returns.

Re-invested into Sin Ghee Huat 1 lot.  Just a very small investment into this company which is a distributor of stainless steel products.  It has a challenging business outlook at the moment but kind of defensive as it is quite spread out into five segments :- marine and shipbuilding, oil and gas and petrochemicals, building and construction, machining and processing, and trading and others.

Added Suntec Reit 1 lot so my total holding in it now at 6 lots.  l have a sinking feeling that l dumping funds into a sinkhole, at the moment.  This additional 1 lot investment already generating -2.0% returns as of Friday closing price.  Suntec Reit will be a forced passive income investment stock for me.  Based on Qtr 2 DPU 2.249 cents and my investment costs in it (at $11k) so l can expect an annual returns of 4.9% or $540 annual dividends.

Decided investing into Mapletree Greater China Commercial Trust (Magic) 1 lot in this week.  Its current share price is around 2.7% above its IPO price so what could be better time to invest into it than now.  Based on my investment costs in it l can expect a 5.5% returns.

For my cash portfolio this week l have also invested into Frasers Centrepoint Trust  (FrasersCT)  1 lot.  With an increasing DPU in each calendar year it's certainly worth investing into FrasersCT especially when its share price is only 8.1% away from its 52 weeks low.  Using 2Q13 DPU and based on my investment costs in it l can expect 5.8% returns.

Divested all of my holding in Loyz Energy 15 lots in this week for a gain of $269 or 5.5% based on my investment costs in it.  Of course l did not manage to sell at its intra-week high price but 5.5% returns in just one week of investment is really sweet which is really due to good luck.

Received dividends from SingPost in this week of $375.

Portfolio walk since previous posting :-

+$2,195 Total Returns as of 12 July

+$375 Dividends from SingPost

+$269 Gain on sales of Loyz

-$569 Unrealised positions worsened

+$2,271 Total Returns as of 19 July

Previous posting :-Cash - Closing Status 12 July

SRS - Closing status 19 July

Divested Mapletree Commercial Trust 2 lots in this week under SRS portfolio at a gain of $46 or yield of 1.9% based on my investment costs in it.   Assuming that its next dividend is having same XD date as last year 31 July and also same dividend rate $0.01537 then the $46 gain is 1.5 times more than the expected dividend amount; $46 = 2 lots x dividend rate $0.01537 x 1.5 times.  And l have already collected its dividend in advance in this week rather then waiting for its payment date on 29 Aug (assuming same as last year).  The proximity of its four properties locations are very near to one another and are very much sought by businesses - PSA building, VivoCity, Bank of America Merrill Lynch HarbourFront,  Mapletree Anson (near to Tanjong Pagar mrt station) so, there is little chance with leases renewals problems.  Will re-invest into it again when its share price weakens further.

Re-invested into Frasers Centrepoint Trust (FrasersCT) 2 lots in this week; for the 3rd time within one month under SRS portfolio.  In the last two rounds (in current July'13 month) l have already collected in advance on its soon to be announced dividends by almost 1.7 times more.  Hope to be third time lucky with the latest re-investment in this week.  Otherwise l will be forced to take on a normal passive income investment route instead of an "accelerated" passive income investment style if its share price weakens further in the coming days and weeks.

Added CDL Hospitality Trusts (CDL HTrust) 2 lots under SRS portfolio in this week.  So my total holding in it now at 4 lots.  Its share price like all other business trusts and reits have been under heavy selling pressure of late.  Further downside on CDL HTrust share price is quite limited from here.  If it keeps getting lower on its share price then l will just keep it for passive income investment so, it becomes a forced passive income investment.  Of course, l do very much want it to be an accelerated passive income investment type even though doing so can be easily mistaken as trading (which is not my cup of tea really).  

Portfolio walk since previous posting :-

+$7,695 Total Returns as of 12 July

+$46 Gain on sales of Mapletree Commercial Trust

-$549 Unrealised positions worsened

+$7,192 Total Returns as of 19 July

previous posting :- SRS - Closing status 12 July

CPF - Closing Status 19 July

Invested into Cambridge Industrial Trust 13 lots in this week under CPF portfolio.  l have estimated on the investment costs as l do not have the visibility on the exact bank charges incurred.   

Cambridge recently divested its industrial building in Hillview at 28% gain.  The sale proceeds from the divestment will be used by Cambridge for the repayment of debt, acquisition opportunities, asset enhancement initiatives or developments and for working capital purposes.  Plenty of acquisition opportunities in Singapore for Cambridge as current property prices are quite depressed now.  

Portfolio walk since previous posting :-

-$6,933 Total Returns as of 12 July

-$312 Unrealised positions worsened

-$7,244 Total Returns as of 19 July

previous journal :- CPF - Closing Status 12 July

Cash - Closing Status 12 July

Divested CDW 16 lots at nett gain of $57in this week under Cash portfolio.  Its 2nd quarter results are likely to be weak mainly because of a major customer's stock adjustment.  Nevertheless overall full year results will still be okay.   So, l will look into re-investment opportunity on CDW at lower share price levels.

Also divested Tai Sin Electric 3 lots in this week at nett gain of $16.  It reported good revenue and profit results for 9M2012; so is cash generating from operating activities and strong Balance Sheet.  Will re-invest into Tai Sin soon.

Invested into Mapletree Logistics 1 lot in this week.  This logistics reit company has its well diversified customer-mix businesses in Singapore, Japan, Malaysia, Hong Kong, China, Vietnam and South Korea.  There is greater stability and resilience because there is no reliance on any single industry or customer.  Based on my investment costs in it l can expect an annual dividend yield 6.2% if l am stuck with it.

Also invested into Far East Hospitality Trust 1 lot in this week under Cash portfolio.  It goes XD on 18 July for dividend rate at $0.019 which equivalent to 2.0% dividend yield.  Definitely better than bank deposit rate for an investment costs under $1k.

Added SingPost 5 lots in this week so bringing total holding of it at 19 lots now. Looking forward to its usual next dividend which will XD on 14 Aug at dividend rate of $0.0125 if it is maintained the same as previous years.

I have plucked up my courage to invest into Loyz Energy 17 lots.  It's a new and exciting chapter for Loyz now that Sim Siang Choon Hardware has been successfully sold away to Mr Sim Siang Choon.

Portfolio walk since previous posting :-

+$1,661 Total Returns as of 5 July

+$73 Gain on sales of CDW, Tai Sin Electric

+$461 Unrealised positions improved

+$2,195 Total Returns as of 12 July

Previous posting :-Cash - Closing Status 5 July

SRS - Closing status 12 July

Added  Mapletree Commercial Trust 1 lot in this week under SRS portfolio so, l have total of 2 lots of it now.  Just in case l am stuck with my investment in it then l can still expect an annual dividend yield 5.8%.  Distributable income is likely sustainable at 2012 rate or even higher with the completion of Mapletree Anson acquisition in early Feb'13.

Invested into Tat Hong 2 lots.  Its near term outlook is quite risky due to weakness in AUD currency where it has significant business there.  Its share price has been correcting since 22 May till now so further downside from current point seems quite limited.  Its next XD date is 5 Aug and just in case l am stuck with it beyond this XD date then l can expect annual dividend yield of 3.3% for calendar year 2013.  Annual dividend yield 3.3% is still reasonably okay especially when comparing against bank fixed deposit rate for investment amount of $2.4k.

When l have invested into Sin Heng Heavy Machinery 15 lots in this week l have overlooked the fact that it is currently going through Rights Issue which will ex-Rights on 18 July.  I have never like the idea of subscribing to Rights Issue due to expensive costs involved when divesting away odd lots.  Hoping to divest away Sin Heng before it goes ex-Rights.  Its nine-months results on both revenue and profit are really good and it has cash generating status on operating activities.  l will definitely re-invest into Sin Heng if l "survived" whilst divesting it away next week.  If l am stuck with it then based on my investment costs in it l can expect an annual dividend yield of 3.8%.
 
Divested Frasers Centrepoint Trust  (FrasersCT)  2 lots in this week under SRS portfolio, again.  Investment duration was only within one week for a nett gain of $42 or 1.1% returns which is better than bank rate for savings account.   Its next dividend likely to XD 31 July and assuming a dividend rate $0.026 same as last year then the nett gain of $42 is 80% of the full dividend amount ---> 2 lots x dividend rate $0.026 x 80% = $42.  I am still okay with it as the investment duration is short.  Will re-invest into FrasersCT when its share price weakens again.

Invested into Suntec Reit 1 lot in this week under SRS portfolio.  But l have divested it away within the same week for a nett gain of $24.   Assuming that its next dividend is having same XD date as last year 26 July and also same dividend rate $0.02361 then l can expect dividend amount of $24 = 1 lot x dividend rate $0.02361.  So, l have actually collected its dividend in advance in this week rather then waiting for its payment date on 27 Aug (assuming same as last year).

Finally, l have invested into SingPost 10 lots in this week.  Looking forward to its usual next dividend which will XD on 14 Aug at dividend rate of $0.0125 if it is maintained the same as previous years.

Portfolio walk since previous posting :-

+$7,544 Total Returns as of 5 July

+$65 Gain on sales of Suntec Reit, Frasers Centrepoint Trust

+$86 Unrealised positions improved

+$7,695 Total Returns as of 12 July

previous posting :- SRS - Closing status 5 July

CPF - Closing Status 12 July

Invested into Cache Logistics Trust 8 lots in this week under CPF portfolio.  But l have divested it all away within the same week.  Based on estimated costs for using CPF Investment funds then the nett profit is around $131 or 1.3% returns based on my investment costs in it.  Will re-update if the CPF Investment statement at the end of the month is showing different charges incurred.   

And assuming that its next dividend rate same as last year's rate at $0.01981 then the nett profit of $131 is 82% of the full dividend ---> 8 lots x dividend rate $0.01981 x 82% = $131.  Quite a good outcome as this is as good as collecting its dividends in advance (probably same XD date 31 July and payment date 29 Aug) and considering that the investment duration is less than one week.  

Portfolio walk since previous posting :-

-$8,363 Total Returns as of 30 June

+$131 Gain on sales of Cache Logistics

+$1,299 Unrealised positions improved

-$6,933 Total Returns as of 12 July

previous journal :- CPF - Closing Status 30 June

Investing status for Six Months 2013

Summary of investing status as of 30June 2013.

As of half time 2013, realized amount per month is at $675.  Cash portfolio came in as best performing portfolio at half time 2013 at $560 per month.

CPF - Closing Status 30 June

Received the CPF investment statement from the bank this week and there was a quarterly service charge of $12.84 in it.

Booked a painful realized loss of $4.5k during quarter 1 which was an investment mistake made in my earlier investment years.  But with the dividends received and investment divestments made during half time of 2013, the realized loss amount now at $2.4k.  Hoping to just break even on year 2013 by end of this year.

Portfolio walk since previous posting :-

-$7,792 Total Returns as of 7 June

-$13 CPF Investment Account service charges for Quarter 2

-$559 Unrealised positions worsened

-$8,363 Total Returns as of 30 June

previous journal :- CPF - Closing Status 7 June

SRS - Closing status 5 July

Divested Frasers Centrepoint Trust  (FrasersCT)  2 lots in this week under SRS portfolio.  Investment duration was only within 2 weeks for a nett gain of $44 or 1.2% returns which is better than bank rate for savings account.   Its next dividend likely to XD 31 July and assuming a dividend rate $0.026 same as last year then the nett gain of $44 is 85% of the full dividend amount ---> 2 lots x dividend rate $0.026 x 85% = $44.  I am still okay with it as the investment duration is short.  Will re-invest into FrasersCT when its share price weakens again.

Invested into Kingsmen Creatives 3 lots 2 weeks ago but l have decided to divest it all away in this week for a nett gain of $63.  The $63 nett gain is 1.4 times its next dividend rate $0.015, if maintained the same for this year; 3 lots x dividend rate $0.015 x 1.4 times = $63.  And l have already collected it in advance now rather then waiting for its next XD 4 Sept and payment 24 Sept.  Will re-invest into Kingsmen Creatives at lower or reasonably good share price levels.

Divested UMS 21 lots at a nett gain of $240 within one week of investment period.  I could not resist for doing so because the nett gain $240 is better than expected dividend amount of $210 (21 lots x dividend rate $0.01).  And also l can collect it ahead of its XD date 9 July and payment date 26 July. 

 
Portfolio walk since previous posting :-

+$6,944 Total Returns as of 28 June

+$347 Gain on sales of UMS, Frasers Centrepoint Trust, Kingsmen Creatives

+$252 Unrealised positions improved

+$7,544 Total Returns as of 5 July

previous posting :- SRS - Closing status 28 June

Cash - Closing Status 5 July

Divested UMS 3 lots which l have invested into it one week ago at nett gain of $67.  UMS will XD 9 July and dividend rate is at $0.01.  I have collected its dividend in advance and at 2.2 times more with its divestment in this week 3 lots x dividend rate $0.01 x 2.2 times = $67 as dividend payment is scheduled as 26 July.

Have decided to divest  Ascendas India Trust 1 lot in this week after only one week of investment into it at nett gain of $16 or 2.3% returns.  Reason for doing so is simple and it was because at 2.3% yield within such a short investment time so it beats the usual low bank deposit rate.  Furthermore the nett gain $16 is worth 4.5 train trips to and fro home and work place.  Or l can use this to save it for my next Donation (2013 to-date at $200).  Anyway, will re-invest into Ascendas India Trust at lower share price levels.

Could not resist divesting away Kingsmen Creatives 3 lots in this week under Cash portfolio for a nett gain of $126.  Nothing wrong with Kingsmen Creatives really but why not collecting its dividends in advance when it's already available. Unless l am stuck with a reasonably good dividend stock at an unrealised position then l will not hesitate to take profit off the table however small the amount.  I do not the luxury of large amount of funds for passive investment over a few years period.  I subscribe to the idea of making the money working much harder with a few rounds of investments and divestments.  However l do not subscribe to the idea of cutting loss in my stock investments unless it is a serious and incorrect bad investments (which happened no more than 5 times in about 2 years of serious shares investments).  Paper losses are investment noises as the stocks l am stuck in are still giving out reasonably good dividends so l okay with it.  Cutting losses is more for traders so it can really waste much of already limited available investment funds.  Back to the divestment of Kingsmen Creatives in this week, the $126 nett gain is 2.8 times its next dividend rate $0.015, if maintained the same for this year; 3 lots x dividend rate $0.015 x 2.8 times = $126.  And l have already collected it in advance now rather then waiting for XD 4 Sept and its payment 24 Sept.  Will re-invest into Kingsmen Creatives at lower or reasonably good share price levels.

Duty Free has declared dividends rate of $0.025 (interim dividend $0.01 + special interim dividend $0.015) which will XD on 10 July.  In this week l have divested Duty Free 7 lots at nett gain of $71 and is only equivalent to its interim dividend amount --> 7 lots x dividend rate $0.01 = $70.   l am hoping for better luck next time.  

Looking forward to receive dividends from SingPost when it is paid on 15 July of which l have 15 lots in it.  In this week l have sold SingPost 1 lot at nett gain $28 so in a way l have collected its next dividend in advance which will next XD around 14 Aug and hoping that it is still at same dividend rate $0.0125.  The nett gain $28 is 2.3 times its next dividend payment amount; 1 lot x dividend rate $0.0125 x 2.3 times = $28.   I am stuck with my investment in SingPost with paper loss status on the remaining 14 lots but l am okay with it as it can be considered a good problem to have. 

Portfolio walk since previous posting :-

+$1,368 Total Returns as of 28 June

+$309 Gain on sales of UMS, Duty Free, Ascendas India Trust, Kingsmen Creatives, SingPost

-$16 Unrealised positions worsened

+$1,661 Total Returns as of 5 July

Previous posting :-Cash - Closing Status 28 June

Is it true Long term investing is dead?

Link to full report :- Long-Term Investing Is Dead; Check the S&P Chart

If you didn't already guess it, then you know that long-term investing is dead. It's so dead that it actually stinks. The idea should be consigned to the dustbin of history and replaced with more of an up-to-date thinking. It's part of the core belief that influences the way we look at market outlooks over the next six months. ......

..... Forget individual stock picking because that's a waste of time ....After years there may be an opportunity to profit from buy and hold with the S&P - but only if you can break a 15-year habit and sell to lock in a profit. ......  

 >>>>>>>>>>>>>

 

Link to full report :- When Long-Term Investing Fails

It has been close to six years since the start of the Great Financial Crisis of 2007-2009, during which the Straits Times Index (SGX: ^STI) bottomed on March 2009 at 1,456 points. Since then, it has climbed by 114% to 3,118 on 27 June 2013, representing a great return for investors who had the foresight to invest in the STI through an index tracker like the SPDR STI ETF (SGX: ES3) at the market-bottom.

But, for those who had invested at the index’s pre-crisis peak of 3,875 on 11 October 2007, they’re still waiting to break even after almost five and a half years. To those investors, they’ll likely argue that long-term investing has failed them. ......

. ......Long-term investing is likely to fail when investors are indiscriminate about the relationship between a business’s underlying fundamentals and future expectations. But then again, those traits make for a poor investing experience anyway, regardless of a person’s time horizon.  OUCH!

>>>>>>>>>>>>>> 

Link to full report :-  Time is on your side

.......  You're trying to fund your retirement over the next 20 years. Hedge fund managers have to woo their clients every month. You're saving for your kids' education next decade. Fund managers have to fret about the next quarter. You can look years down the road. Traders have to worry about the next 10 milliseconds.

Most professional investors can't focus on the long run even if they want to. As well-known former tech analyst Henry Blodget put it: “If you talk to a lot of investment managers, the practical reality is they're thinking about the next week, possibly the next month or quarter. There isn't a time horizon; it's how are you doing now, relative to your competitors. You really only have 90 days to be right, and if you're wrong within 90 days, your clients begin to fire you.”

I'm a long-term investor. I'm not going to fire myself because of a bad quarter. The fact that you and I don't have to play these insane short-term games is the last remaining edge we have over the pros. And frankly, it's enormous.

The biggest risk investors face is losing money between now and whenever they'll need it (retirement, school, etc.). The good news for you – and bad news for Wall Street – is that the odds of losing money drops precipitously the longer you're invested for.  ......