Most people who own stocks would say they are “longterm investors”. Yet, why are so many investors compelled to check their stocks’ prices every day? And, if equity mutual funds are truly seeking “long-term growth”, as most purport to be in their prospectuses, why does the average annual turnover in mutual funds approach 100%? All the attention investors and the media devote to short-term market fluctuations completely misses the point of being invested in stocks.

To continue reading this Newsletter, please click here.