A friendly reminder, which might be useful during a time when people are worried about "macro" (as they so often are):
This is a Swedish billionaire who worked all his life as a railway employee in a small town, saving a little money and investing it in safe companies, and never ever selling.
Below article from 2011, and the Euro crisis.
This is the correct mindset!
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The economic situation in Europe is rough right now. Today, stock market chaos has continued on the world's stock exchanges and around the world, economists and analysts are trying to understand, if possible, what is happening and what to do right now. But at home in Nässjö, the "stock market stationmaster", Lennart Israelsson, sits with his over 80 years of stock market experience, and takes it all in stride.
Now you should buy instead of sell, he says.
- I'm an optimist, it usually comes again. I have seen it fall seventy percent twice. In 1980 I had a million and in 1989 it was SEK 15.5 million, the 80s were good. Then it fell to 5.5 but I did not sell, but was in for the rise. I do not sell when it falls, it always comes back again.
Then you are not selling now either?
- No, it always comes back again. It sometimes falls just so I can buy, I take advantage of that. It is so heavenly easy to become a millionaire, says Lennart Israelsson.
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