Argent Quarterly Investment Commentary – April 2012
“I skate to where the puck to is going to be, not where it is.” – Wayne Gretzky
Just as Wayne Gretzky had to picture how a play might develop so that he could skate to where someone could pass him the puck, investors must try to visualize the future when positioning themselves for long-term stock and bond market gains. This frequently takes the ability to look beyond short-term news. Woodrow Wilson once said, “The man who is swimming against the stream knows the strength of it.” So too for investors. Discounting short-term popular sentiment in order to keep the proper long-term perspective is always a challenge.