Persistence is better than perfection
Investors buy and sell at the wrong time. When the market is booming, they buy, and when they think the market’s in trouble, they sell. And investors chase high-performing funds, “hot” stocks, and fads. The magnitude of wealth lost through bad timing and poor choices is stunning.
The Best Protection Against Poor Timing Is a Disciplined Strategy of Consistent Investing. If you invest consistently - such as by adding a steady amount to your investments regardless of what the market is doing - you free yourself from worrying about when best to invest, and you’ll likely invest more overall. You won’t be chasing winners just because they’ve already won - in other words, “chasing performance.” Instead you’ll be investing in a smarter way.
Managing your mind is more important that managing investments