In 2013, an American asset manager called Fidelity Investments (which currently manages investments worth US$ 4.2 trillion), once checked which of their customers received the best returns from their investments over a period of 10 years. They found that the investors who got the highest returns had either forgotten that they had investments or they were dead.
Dead people do better in the stock market than living people, because dead people are not always interfering with their investments the way that living people do. Dead people don't panic and cash out their investments when the market crashes. Dead people don't buy stocks because of FOMO (fear of missing out). Dead people don't read or listen to investment opinion pieces from TV or popular websites.
This is what the dead teach us about successful long-term investing:
- Stop fiddling with your investments. Leave them alone.
- Stop panicking and selling your investments when markets crash.
- Stop chasing every hot and popular investment.
- Ignore investment opinion-pieces.
- Buy and hold low-cost, diversified investments for the long term.
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