🔒 Boardroom Talk: How odds of making money in the share market eventually rises to a guaranteed 100%.

By Alec Hogg

Ahead of BNC#5, Piet Viljoen sent me the covers of a few books he would be recommending. So, on my travels, I bought a copy of The Psychology of Money by Morgan Housel and quickly saw why the 238-page best-seller enthralled our keynote speaker. 

Here’s a taster. In Chapter 11, Housel explains the difference between ‘Rational’ and ‘Reasonable’ investors – and explains that whichever one you may be, commitment is critical to achieving the objective of making a profit.

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He writes: “The historical odds of making money in US markets are 50:50 over one-day periods; 68% in one-year periods; 88% in 10-year periods; and (so far) 100% in 20-year periods. Anything that keeps you in the game has a quantifiable advantage.’“

Or put differently; it’s not timing the market that delivers superior returns. It’s time in the market. And it is sticking with your strategy, especially during the lean years.

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