Hello, everyone! I’ve been investing in Tesla for a while and holding onto it. That’s what I’ve been doing in the stock market. Holding over long periods of time has been the biggest profit generator in the markets.
In this clip:
- Tesla investments
- Investing based on long-term convictions
- Starting as soon as possible
The best profit generator is finding a good asset, something with a strong ten-year horizon, and holding it. Pair this with a strategy like DCA (Dollar Cost Averaging) and stick to it. As the saying goes, "It’s not about timing the market; it’s about time in the market."
For some assets, holding them has a bigger profit impact than day trading. Mitch speaks from experience, noting that he would have been better off holding the assets he spent his 20s day trading.
You can always walk away and sell if you change your mind about an asset, but entering an investment you trust and are prepared to hold for ten or more years is a good sign that you are in the right place.