Key Takeaways

• “Selling your winners and holding your losers is like cutting your flowers and watering the weeds.”
• “The real key to making money in stocks is to not get scared out of them.”
  • Knowing what you own is the most important part of investing
• “Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”
  • Economists have predicted 33 of the last 11 recessions
• “You get recessions, you get stock market declines. If you don’t understand that that’s going to happen, then you’re not ready and you won’t do well in markets.”
  • There is no way to dance around the tumultuous times in the market; you have to learn how to live through them
• “If you spend more than thirteen minutes analyzing economic and market forecasts, you’ve wasted ten minutes.”
• “Behind every stock is a company. Find out what it’s doing.”
  • Just because someone is a professional does not mean that they know more than you
• “In the long run, a portfolio of well-chosen stocks or mutual funds can outperform the most sophisticated investment strategy.”

This episode is presented by Fidelity Investments and the all-new Fidelity Trader+, Fidelity’s most powerful trading platform yet. Learn more at: https://Fidelity.com/TraderPlus

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