Investing 101Here is a paragraph from Eric Nuttal's recent post. In it he quotes a line from a book the every investor should have read already. I thought you might like it.:
We remain in a multi-year bull market which will lead to all-time high oil prices. With energy stock valuations becoming even more compelling after the recent selloff, trading at average free cash flow yields of 25 per cent at US$70 for WTI, I have been adding to beaten up names and keeping this nugget of wisdom from Reminiscences of a Stock Operator, a classic book on investing written by Edwin Lefevre in 1923, in mind: “Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end.”