A week or so ago, I read an article in The Wall Street Journal that provides a great lesson to all investors: Buy good businesses and then just hang on. Do nothing.
I’m smiling to myself, because I’m pretty sure I can guess what you’re thinking: “Heard this story before, Alan. Buy and hold. Be patient. Value investors are in it for the long term.” And you’re right. You have heard it before; and you’ll hear it over and over again, for one simple reason:
Quoting from the story’s headline, “It’s a recipe for success”.
To prove his point, Randall Smith, who wrote the piece, uses the ING Corporate Leaders Trust as an example. The 22 stocks in this $750 million dollar portfolio are all descended Read More »