In this episode of “The 5,” Motley Fool contributors Travis Hoium, Taylor Carmichael, and Jason Hall each offer an investing rule they always try to follow when buying an individual stock. While their advice is different, one theme comes up over and over again — patience is rewarded.
This segment was recorded on Oct 21.
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Jason Hall: What I want to do guys is for us to share our own rules, each of us maybe just a rule that you think every individual investor should follow almost without exception. Travis, you got one for us?
Travis Hoium: Yeah. One of the things that I have gotten better at over the years but I think is always a good idea, is to just not check your portfolio on a regular basis. We’re the people who are in the stock market every day, we’re looking at what’s happening with companies trying to analyze them on a fundamental level. But at the end of the day, for me as an investor, it doesn’t matter if the stock is going to go up two percent, or three percent, or five percent, or down, for that matter, in any given day or week, or even year. I’ve learned this over the years that the times when I forget about my portfolio, if you will, and just don’t log in for a month or two, that’s when I really do the best as an investor. That’s something that I’m both trying to institute for myself but I think is a really good idea for most investors, is just don’t check on your portfolio too often.
Jason Hall: Taylor? You’re muted, boss. There he is.
Taylor Carmichael: [laughs] Thank you. I’m a rule-breaker at heart, so that was a tough question for me. I’m like, “Rules, rules.” One rule I like that’s a good rule and I always do it, is I put all …….