What I've learned after 44 years of market ups and downs.
The hard-won insights that have kept me profitable through 8 recessions, 3 market crashes, and more 'once-in-a-lifetime' events than I care to count.
Lack of attention
If you're here reading this, you're clearly someone who thinks seriously about investing - and that already puts you in good (and rare) company. Studies have shown that the vast majority (over 80%) of investors don't pay much attention to their portfolios. Serious investors at least have a fighting chance to make some serious money for their efforts.
Some things never change
I've learned that success isn't just about predicting what's next. It's also about understanding what never changes. Earnings still matter, and so do valuations. No matter how attractive a stock may be, if you overpay for it, you will not make much money, if any.
Mindset is paramount
Getting your head straight before you make trading decisions is paramount. We all have natural biases and faulty beliefs. The skilled investor recognizes most of these impediments and takes steps to neutralize them.
The market robs you of time
You could hold all your stocks through recessions and bear markets, and eventually you will get your money back, But the average bear market lasts about a year, and you'll never get that year back. The opportunity cost of being essentially out of the game for a year can be quite high.