Quote of the Day: The Definition of Good Investing

Gregory Morris, in Investing with the Trend, perfectly defines “good investing”:

Good investing is not an “event” like finding the next growth company or catching the next market turn. Rather, good investing is a disciplined process that converts research and training into a well-tested methodology, and then makes a habit of following that approach day after day. Because profits are enjoyable, investors often believe that they are “paid” when their good ideas are comfortably working out, but that is an illusion. If you carefully study the returns of successful investors, you’ll find that their profits are more often a sort of delayed payment for actions they took much earlier: maintaining their investment discipline even when it wasn’t working in the short run…

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