If there’s one thing I’ve learned about the market in recent years, it’s that it has selective amnesia. Consider the current rally since Friday that’s seen the Dow Jones Industrial Average
“Who cares about the consumer?” said Dow component and enterprise IT provider Cisco
On the other hand, memories of pharmaceutical lawsuits and steep government fines are deeply embedded in this market’s forgetful psyche. That’s why nothing was going to keep shares of Pfizer
Making sense of it all
The thing to remember when watching the market is that you, like the market, probably won’t remember much of this short-term noise in a couple of weeks, let alone ten or twenty years down the road. Instead, buying quality stocks for the long-term is a strategy that has proven itself time and time again. The key is to avoid the urge to jump ship when things look horrible because, oftentimes, that’s the point of maximum opportunity.
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Brenton Flynn owns no shares of the companies mentioned. The Motley Fool owns shares of Johnson & Johnson and Cisco Systems. Motley Fool newsletter services have recommended buying shares of Johnson & Johnson and Pfizer. Motley Fool newsletter services have recommended creating a diagonal call position in Johnson & Johnson. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.