Abbott Labs And Unlimited Patience With Dividend Stocks

If I had to make a list of the obstacles that can prevent people from successfully applying some of the sound investing principles found in Benjamin Graham’s early writing, one of the spots would be reserved for lack of patience—stocks that are unpopular can sometimes remain unpopular and underpriced for a long period of time, and it can become tempting to sell a stock simply because the price of the company isn’t moving forward as fast as you’d like (by the way, a lack of patience can also be a problem with companies that move upwards too fast—Exxon Mobil turned $100,000 into $1,800,000 over the past twenty-five years, and I’m sure a quick gain from $100,000 to $130,000 in 1989 or 1990 brought some investors out of the stock).

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