October 30, 2015 Link and snips to an article on Philip Carret and Buy and Hold Investing
S&P 500 2086
This is an excellent and easy to read article written by Jason Zweig, and is about Philip Carret and his buy and hold investing style. I remember reading this article when it originally came out. Snips below, as well as a link to the entire article.
“Investing genius consists of one part patience and one part compound interest, says Philip Carret.”
“This looks like lazy investing, but in fact it’s smart investing. It’s smart because it’s patient. Carret doesn’t spend his day trading like a frenetic hedge-fund operator. He doesn’t try to time the market, either. He buys and holds.”
“At 97, Phil Carret has well learned an essential truth about markets: Traders rarely die rich, patient investors often do.”
“Since 1919, through thick and thin, four U.S. wars, roaring inflation and deadening recessions, Philip Carret (rhymes with hurray) has been investing with success in stocks and bonds. Longevity pays in investing. It means that your successful stock picks compound, uninhibited by capital-gains taxes.”
““I have a very simple strategy,” says Carret. “I buy good companies at attractive prices. Then I sit on them,” he adds, bearing down in his seat for emphasis.”
“Carret doesn’t hold all his stocks for 48 years, but he really does hate to sell.”
“Carret likes low debt, steady earnings growth and a current ratio—current assets divided by current liabilities—of at least 2-to-1. And he loves to buy what analysts have taken off their buy lists. ”I don’t give a damn what they say,” says Carret. “They’re frequently wrong.””
”Don’t speculate. Buy for the long pull.
“Always stay fully invested. Keep your portfolio well diversified.”
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