Steady
The stock market is anything but steady. It is a live auction that results in wild swings due to human emotion and the tendency to believe that whatever is happening today will continue forever. In sharp contrast, the businesses that are being bought and sold continue to serve their customers, generate revenue and profit and reward their owners. Looking forward the tendency is to feel uncertainty and fear yet the businesses we invest in have generated steady growth for decades and even centuries. That single insight is the key to investing successfully and sleeping at night.