Joseph Moore

So Us Inc.

was when I thought, I've got to run this like a business.

And I'm going to treat my profits, my losses, the way I see time horizons, the way a business should be treated.

And when I began to run it like a business, that's when things began to turn around.

And so that's one thing I do encourage most people to try to wrap their mind around.

Don't see yourself as sitting back investing, because most of that type of advice is about solving you and your problems.

Oh, well, should I drink lattes or should I invest it or should I buy this thing or that thing?

Those are solving your problems.

You make the biggest money solving someone else's problems.

And that's what businesses do.

And so I started to think about how can I use this money to do what the market rewards by solving the problems that need to be solved.

Well, we've lived through a particularly wonderful time to be a buy and hold investor, right?

So I'm not so sure that's always going to continue, by the way.

I don't know that the lesson of history is that because buy and hold has worked well for the

Because, and here's one thing that I really took away from experimenting with stock market investing.

was the stock market that I'm buying in today is different than the stock market my grandfather would have bought into in a different generation.

He was buying, so from the George Washington administration until Michael Jackson's Thriller album, dividends were 90 something percent of returns and price movement was very little of a gain.

And since then, I think well over 70% of our investment returns come not from dividends, but from price elevation.

So our grandfathers would have been buying a share of future profits at today's prices.

I'm buying a share of future buyers at today's prices.