I wanted to take this opportunity, on behalf of the whole team here at The Motley Fool, to wish all of our members and readers a very Merry Christmas.
We know there is no shortage of alternative places you could go when it comes to investment information and advice. We aim to be relevant, interesting and useful, and we appreciate that you've chosen us as part of your investment journey.
We love what we do, and we do it to the very best of our ability. We deeply appreciate and are humbled by the trust you place in us. We don't take it for granted, and we strive to do our best to continually deserve it.
(And a quick acknowledgement to the armed forces, coppers, firies and ambos, doctors, nurses and service and hospitality workers who don't get a break over Christmas: Thank you. We appreciate what you do for us.)
Whether or not you celebrate Christmas, we wish you all the best for this festive season.
Fool on!
Scott Phillips
Chief Investment Officer
Motley Fool Australia
P.S.: As has become our tradition, please enjoy a little investing-themed Christmas goodness.
'Twas the day before Christmas…
'Twas the day before Christmas, when all through the land
Though the markets were falling, we Fools took a stand
No, not just the ones, who are paid to be here
But readers, and members, from homes far and near
You Fools – WE Fools, who have as our aim
The pursuit of investing, this oft thankless game
Of losses and plunges, and rises and smiles
Of fear and of worry, and money in piles
Instead, as we close our eyes, what should appear,
But a miniature sleigh, and eight tiny reindeer,
With a little old driver, so lively but foreign,
We knew in a moment it must be St. Warren.
More rapid than eagles his coursers they came,
And he whistled, and shouted, and called them by name;
"Now, PATIENCE! now, COMPOUND! now, MISTER and MARKET!
On, MARGIN, on SAFETY! on, HOLDING and F'REVER!
He was dressed in a suit, from his head past his knee
"I buy expensive suits. They just look cheap on me."
His eyes — how they twinkled! his dimples how merry!
His cheeks were like roses, his nose like a cherry!
Mr. Buffett reminded us how to invest
"Be greedy when others are fearful" is best
"And dear Mr. Market, that jumpy old bloke
Will cheer and despair, don't you take up his yoke"
On buying and selling, the best tip you'll get:
"Price is what you pay. Value is what you get."
He wasn't yet finished, more wisdom to share
"Buy a wonderful company for a price that is fair"
"Our favorite holding period is f'rever."
"If given the choice, we'd never sell. Never"
And while some investors, they like to think grand,
"Never invest in a business you can't understand."
Those maxims are known, but don't always hold sway,
Investors, they tend to get carried away
Like times such as now, when markets are falling
Those sirens, high up on the rocks, they keep calling
While others they wait for the coast to be clear
Or sell in a panic, and cost themselves dear
St. Warren, of course, has a quote for this time
So just have a listen, while I try to make rhyme
"You pay a very high price for a cheery consensus"
So don't you go losing control of your senses
"It won't be the economy that will do in investors"
Even as pollies do their best to incense us
"It will be the investors themselves."
Says Warren, as he looks at the books on his shelves
"Uncertainty is actually the friend of the buyer
of long-term values." (Which tend to go higher)
In other words, don't be afraid of the falls
They happen; quite often; and fear often stalls
The average investor, who worries and frets
But Foolish investors should take on those bets
Of buying great businesses even when fear
Is scaring the market, and disaster seems near
And remember, says Warren, it's always been thus
Investing ain't easy, and the crowd makes a fuss.
Just stick to the concepts, ideas, and the rules,
That, long-term, make money for sensible Fools.
His wisdom delivered, he tap-danced to work,
Went into the foyer; then turned with a jerk,
And laying his finger aside of his nose,
And giving a nod, up the elevator he rose;
He sprang to his office, to his team said out loud
"Let's go on investing. Don't be swayed by the crowd"
And I heard him exclaim, ere he rose out of sight,
HAPPY CHRISTMAS TO ALL, AND TO ALL A GOOD-NIGHT!
