I was just reading Pomp’s newsletter and in it he wrote, “The S&P 500 has hit a new all-time high every day for the last 7 days. The Nasdaq also sits at an all-time high as well.”
The last decade’s growth in the US stock market has been unprecedented — both in terms of growth percentages and length of time.
It’s not uncommon for these times to lead investors to feel as if they’re “special” or “the next Warren Buffett”.
Especially for new investors who haven’t experienced anything but the last decade.
I even catch myself sometimes feeling like I’m good at stock picking, saying to myself, “wow, maybe you are good at this.”
Then, I quickly remember I’m not — I’m not the next Warren Buffett, I’m not special, and I’ve just been the lucky beneficiary of the last decade’s growth in the stock market.
I like to remind myself of a great quote from the wise Charlie Munger, “It’s not supposed to be easy. Anyone who thinks it’s easy is stupid.”
All the best,
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