By Michael Batnick, CFA
The Irrelevant Investor, LLC.
Right now, stocks are in what the newspaper calls “correction territory,” which means that they’re more than 10% below the highs. Historically, the market has been in this position roughly one in every five days.
Investing hurts. The market has only hit an all-time high on 7% of all days, which means that if you open your account on any given day, there is a decent chance that you’re under water.
Investing is a game of endurance, with the biggest gains accruing to those who can most withstand the pain.