Having to Be Right
As a trader, you have to be right most of the time in the future in order to make money from trading and stop losing your trading capital. Past performance is no gurantee of future trading success.
But, as a long-term investor, once we have been right, we will recover our investing capital over time through dividends. Past performance is an indication of future cash flow.
See the difference in having to be right!
Picking the right stock to be right is tough and having to be right most of the time is even tougher.
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