Pathstone CEO Matt Fleissig has contributed an opinion piece to MarketWatch. In his article, Matt makes this point:
“Trained as a long-term investor, I don’t chase headlines or hot IPOs. I’m more focused on building diversified portfolios designed to compound wealth over decades. People can make wealth by concentrating and can keep their wealth by diversifying. But when clients become convinced that a company belongs in their long-term portfolio, I often come back to a surprisingly simple thought: If you believe the company has the potential to be many times larger, your entry price may matter far less than your willingness to become an owner…. Long-term investing has never been about predicting the perfect price. It’s about owning exceptional businesses for long periods and allowing time, not market timing, to do theheavy lifting.”
Matt’s full editorial is available to Marketwatch subscribers here: SpaceX gave investors intense FOMO. Now the decade’s hottest IPO represents a brutal reality check.
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