One of the best things you can do as an investor is to wait and do nothing.
Wait for what? Wait for a better opportunity to come along. Waiting is one of the most constructive activities you can engage in.
Sometimes, the best thing to do is absolutely nothing. If your stock is going up and the underlying company is getting better and better results every year, what should you do? Absolutely nothing.
If you have some cash but you you've yet to find a decent investment vehicle, what should you do? Nothing. Absolutely nothing until you find a good place to park your money.
Doing nothing about something is one the hardest things you will ever do. But it is well worth it. A good opportunity often turns into an even better opportunity if you will just wait.
You should not give into the temptation to be buying stock just because you don't have any. Being proactive just for the sake of being proactive is rarely a good idea. Instead, hold yourself in check waiting for a better day and a better opportunity.
When you do nothing, you negotiate with the world. You do nothing while waiting for the world to offer you better deal.
Don't worry. A better deal will come along if you will be patient.
©Edward Abbott 2003