Not Your Typical Market Update: Reminder of the Virtues of Being Patient

Most market updates are preoccupied with shorter-term phenomena and near-term concerns. However, today’s realities are best assessed through a longer-term lens—one based on the goal of generating attractive, or at least sufficient, compounded returns over decades rather than months, quarters, or even years. Great investment opportunities are rare, and an investor’s job is to recognize them when they occur and to avoid putting capital in harm’s way. Despite the current bull market that is stretching into its eighth year, history suggests that the time will eventually come when attractive opportunities are much more plentiful.