Investors always wish they had bought more when the market is at all-time highs

→ Yet when a drawdown comes, there’s panic instead of an urge to accumulate
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The reason is that people see investing as gambling rather than business ownership
Irrationally, they get the same feeling as when they bet on a football team and it’s down 2–0 at halftime
You get the shivers
Luckily, investing in stocks has nothing to do with that
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You’re acquiring an equity stake in what hopefully is, or will become, a cash-generating machine
→ There’s no fixed deadline associated with the investment. It’s not a binary event. You don’t simply win or lose. It’s ownership
Now, that doesn’t mean, “You don’t lose if you don’t sell.”
That’s idiotic.
But if you aren’t a flow- or TA-based trader, why are you investing without conviction?
→ And if you have conviction, why are you worrying instead of accumulating in a disciplined and structured way?
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If you don’t develop the mindset to know what to do when they happen and stick to your thesis, you’ll never have any real success in investing
And I’m not only talking about returns
→ Your health can seriously deteriorate
You need to gain control over your decisions and make calm, rational choices
→ If you do that, believe me, investing will become both more successful and more enjoyable
But to get there, you need to become comfortable with the roller coaster that is, and always has been, the stock market