Editor's note: The best investors have the same mindset as the best surfers... Surfing requires extreme patience, as most of your time is spent on waiting for the right wave to catch. And when it comes to investing, great investors know keeping your composure is critical to uncovering the best buying opportunities. If you can master this skill, you can profit no matter what's happening in the markets... That's why Joel Litman – chief investment strategist for our corporate affiliate Altimetry – believes it's crucial for you to remain mindful of keeping your patience in check as we navigate this uncertain market. In today's Masters Series, originally from the March 22 issue of the free Altimetry Daily Authority e-letter, Joel details why the best investors have the exact same mentality as the best surfers... explains why you must remain patient as this bull market plays out... and discusses how waiting for the right time to make an addition to your portfolio can lead to massive gains...
The First 99% of Investing... And What Comes Next By Joel Litman, chief investment strategist, Altimetry "I'm so sorry, but Joe can't make it to today's meeting. He has to go surfing..." The call came from one of our hedge-fund client's sales associates at noon. We were supposed to meet at 4 to go over a custom research package we'd put together for him. Except Joe clearly had other priorities... When we caught up with him a couple days later, Joe apologized. He said he was super excited about our research. And he explained why he blew us off earlier in the week. A hurricane was brewing off the coast of the Long Island Sound. It was creating waves that most surfers only dream about. So when Joe saw the opportunity... he jumped on it. We weren't upset with Joe. On the contrary, when we thought about it, his decision made a lot of sense. As we'll explain, the very traits that made Joe such a good surfer also made him a great investor... With surfing, most of your time is spent on preparation... You have to get all your equipment ready, your board waxed, your wetsuit on, and your ankle strap affixed. After that, you'll spend far more time paddling out to the right distance to catch the wave right when it's breaking. And then you need to wait for the right wave. It's all an exercise in patience.
| Recommended Links: | |  The 2024 Stock Market Secret On Tuesday, March 26, at 10 a.m. Eastern time, Porter Stansberry and Joel Litman are sharing the stage to reveal what could be the biggest moneymaking story of 2024. It has nothing to do with the "Magnificent Seven" or the presidential election... yet it could create enormous gains for those who position themselves correctly. One stock already jumped 170% in a single trading day... But according to these two financial powerhouses, this story is only getting started. Click here for the full details. | |
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The best investors have the exact same mentality as the best surfers. About 99% of the work happens before they hit "buy." In investing, the prep work starts with finding great companies. Regular readers know we look for a high Uniform return on assets ("ROA")... and ideally plenty of tailwinds to keep boosting returns for several years. Then comes the waiting game. Investors tend to be quick to recognize good companies. So they're rarely "cheap." Top investors know that buying at the right time matters. They keep a list of great companies they want to own at the right price. Then, they wait for someone willing to sell. Every once in a while, investors lose focus and let great companies get cheap... This often happens when the market panics during a recession. While we're approaching one of those moments, most stocks aren't there yet. Today's market is still a tough one. Stocks are hitting new highs pretty much every week... and not many are truly "cheap" anymore. That brings me to the other trait Joe demonstrated so well... He was ready to jump when an opportunity arose. It didn't matter that he had a big meeting coming up. He didn't make excuses. When he saw his chance... he took it. You can bet that's what legendary investor Warren Buffett will do when the time comes. Buffett is sitting on $168 billion in cash today – the most cash he has ever held in his career. He almost certainly has stocks in mind for that money. Now, he's waiting for the right wave... the right entry point. When it comes, he'll go "all in." And when that moment comes for your portfolio... you shouldn't hesitate, either. Wishing you love, joy, and peace, Joel Litman
Editor's note: Remaining patient is especially important moving forward, as a strange anomaly is developing in the markets right now that most investors won't see coming. According to Joel and Stansberry Research founder Porter Stansberry, this rare setup could lead to the biggest moneymaking story of 2024 for investors who are paying attention... On Tuesday, March 26, at 10 a.m. Eastern time, Joel and Porter are going on camera to talk about what's coming next with this once-in-a-lifetime market anomaly – and how you can take advantage of it. Learn more here... | 
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