A great stock market analogy courtesy of Ralph Wanger, a portfolio manager from the Acorn Fund:
He likens the market to an excitable dog on a very long leash in New York City, darting randomly in every direction. The dog’s owner is walking from Columbus Circle, through Central Park, to the Metropolitan Museum. At any one moment, there is no predicting which way the pooch will lurch. But in the long run, you know he’s heading northeast at an average speed of three miles per hour. What is astonishing is that almost all of the market players, big and small, seem to have their eye on the dog, and not the owner.
Let's keep our eye on the owner!
As always, I am here to help if you have any questions.
Paul Polyviou CFP, CLU
(416)-259-8222 ext 243 or firstname.lastname@example.org