Charlie Munger Says the Money Is "in the Waiting." 3 Stocks Investors Should Buy and Forget.
Given Charlie Munger's decades of success, investors often turn to him for guidance. One of the more interesting pieces of advice involved what investors should not do. Instead of actively trading all the time, Munger advised, "The big money is not in the buying and the selling but in the waiting."
Admittedly, "waiting" may not sit well with active investors who might feel an emotional need to do something. Also, they might truly want to act if developments alter the investment thesis.
Nonetheless, investors have sometimes earned massive returns from not reacting to news that could wipe out almost all of a stock's value. For example, Amazon has prospered despite losing more than 90% of its value at one point.
Source Fool.com
