The Investors Who Did Nothing

Buffett has said his favorite holding period is "forever." It's not sentimentality — it's that every decision to sell, time the market, or react to a headline is a decision that interrupts compounding. The investors who've done best over the long run aren't necessarily the ones who traded most skillfully; often, they're simply the ones who let the process run the longest, undisturbed. Time in the market has a way of quietly outperforming attempts to out-think it.

I've seen this hold true, again and again, across my years managing investments.