When I was 16 our family visited one of my father’s patients in Ohio. He was a multi-millionaire and had a private airstrip in his front yard.
My father was a big stock charter, marking his little X’s and O’s and trying to predict when to buy and sell. Never did that well as I recall, at least he certainly didn’t beat the market as a whole.
This millionaire gave him some advice which I still remember. He said, “Al, the way to make money in the stock market is to pick some good companies. Pick ones you think have staying power. Buy stock in those companies. Then don’t touch it, don’t even think about it. Twenty years later you will have made some pretty good money in the stock market.”
