To succeed in investing, know your distance and play the long game
Investing in a diversified portfolio over a long horizon dramatically raises the probability of achieving your life goals
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WHOM do you expect to win in a race – Usain Bolt or Mo Farah? Naturally, to answer this question, you would need more information, such as the distance of the race. Clearly, in a 100 m or 200 m race, Usain Bolt would win, while over a 10 km race, Mo Farah would be the victor.
Both are elite runners, and they are both very clear about where their competitive advantage lies. They train themselves – both physically and mentally – to win over their respective distances.
When you think about investing, it is also important to decide the “distance” or time horizon of your investments. This will influence how you approach investing and the probability of success.
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