I’ve come across this Carl Richards lately, and absolutely love everything he’s doing as a financial planner. His latest article is titled “The Case for Slow Money,” and is in one word – excellent. Here are a few excerpts:
- Being slow and steady means that you are willing to exchange the opportunity of making a killing for the assurance of never getting killed.
- If you accept the fact that slow and steady wins the race and you find a way to invest that way, you can turn off all the noise of Wall Street.
- If your goal is to have something to talk about at the next neighborhood party, try something [other than slow and steady investing.]
- Being slow and steady is hard because it always seems that someone is getting rich quick… Sometimes it only takes a few winning trades for someone to forget the losers.
- Slow and steady capital: short-term boring, long-term exciting.
If I can pass one thing onto you to make you a better investor, it’s to remain slow and steady. Get rich quick schemes are nothing more than an escalator to the newest bubble of whatever they’re getting rich in. Slow and steady, Jack. The first and last time I’ve checked, the tortoise still beats the hare. Till next time, Jack.