Louis Rukeyser was a sounding board for reason in irrational markets. For three decades, he hosted Wall Street Week. He pushed against the ever-shrinking attention span of Wall Street by promoting a longer-term mindset.
Anytime markets got wild, Rukeyser filled his panel with a few legends to help cut through the noise. Few guests did it better than John Templeton and Peter Lynch.
Both were guests on the 20th Anniversary show in 1990 and shared some timeless principles. Their conversation is a good reminder of how distracting the market can be.
Whether it’s market predictions, the latest economic indicator, someone else making fast money, or a spike in volatility, it diverts your attention from what matters. That’s when investors get into trouble.
The solution is patience. Focus on the long term. Understand what you own. Bigger market swings should be expected. Always keep price and value front of mind.
A transcript of their conversation is below. Continue Reading…