YOU CAN become a better investor by learning from better investors. We've shared some words of wisdom here in recent days, and today we offer more:
* Benjamin Graham: "The investor's chief problem - even his worst enemy - is likely to be himself." This is critical, as we're too often swayed by emotions such as fear and greed. They can lead us to sell off temporarily slumped holdings in a panic or load up on overvalued stocks due for a fall.
* Peter Lynch: "The best stock to buy is the one you already own." This is a good reminder that you shouldn't keep adding dozens of stocks to your portfolio, as you won't be able to keep up with them. Aim for perhaps 10 to 20 holdings, and consider adding to promising positions. Make sure you allocate the most money to your best ideas.
* Warren Buffett: "When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever." Short-term thinking (and impatience) can be disastrous to your investing results, as stocks don't always behave as expected in the short run. But over a long time, stock in a healthy and growing company is likely to keep growing.
