If I had to make a short list of the investor’s biggest enemies, one of the top slots would be dedicated to the fact that we receive stock market quotations during every second of the business day from Monday through Friday. It completely turns otherwise intelligent investors into short-term traders.
Imagine if buying a stock was something you had to earn. You know, pretend you had to hike by wagon hundreds of miles to New York every year in a sort of reverse Oregon Trail style to purchase your stocks. And for good measure, let’s pretend the stock market was only open one per year. Think about what that would do to your stock selection and screening process.