In his recent interview on The Derivative Podcast, Jim Rogers discussed a number of topics including not looking at the price of something for a number of years after you’ve bought. Here’s an excerpt from the interview:
I have learned Jeff over the years that I’m not a very good trader, the worst trader in the world, worst market timer in the world. So for me especially in a bull market, if I find something cheap that I think is going to go up for a long time I don’t want to know the price.
I used to open accounts in countries and the broker would say well shall I call you every day or every month. I said no. I don’t want to know. I don’t want to know the prices because if I know the prices if it goes up a lot I might sell it. If it goes down a lot I might sell. I don’t want to know the prices.
But when I think a few years from now that the country is changing or the market is changing I’ll call you back and we’ll sell. So I’m horrible at market timing.
You can watch the entire interview here:
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