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After having thought long and hard about it, I will no longer be reporting my weekly returns. I feel that the practice of reporting daily and weekly returns has now grown to such an extent that it risks encouraging short-termism and I don't want to contribute to that.
1/6
1/6
Such short term measures are not reporting investment performance; they are reporting volatility. A number of recent tweets I have read appear to be conflating the two, with congratulations being heaped upon anyone having the most volatile portfolio that week. It is crazy.
2/6
2/6
Ultimately, investment is a long term endeavour and the only thing that should really matter is your returns achieved over a lifetime, and certainly not over discrete periods of less than five to ten years.
3/6
3/6
My own focus is on companies through which the investment performance will be derived from long term creation of value. Price volatility is irrelevant to that, other than to serve up the occasional buying opportunity.
4/6
4/6
Admittedly, being an inveterate miser, I do pick up the odd cigar butt for its one free puff, but it's an innate and nasty habit of mine which I could do with cutting back a little; as well as resisting the occasional temptation to sell when I should hold.
5/6
5/6
I apologise to anyone who found the weekly updates useful or interesting, but I hope you understand my reason for doing this. I certainly don't wish to criticise all the excellent investors out there who continue to do so.
6/6
6/6
