The Importance of Patience and Time

Views from the Equity Income Team
Jason Gibbs, Vice President & Portfolio Manager
Reprinted with permission from Dynamic Funds


There was a quote in the Wall Street Journal recently that really caught my eye. It was from a wealth management executive who said a financial advisor’s role “is kind of like becoming a psychologist.”

So true. After all, psychology is defined as the study of mind and behaviour and those who don’t understand how psychology informs markets are doomed to repeat the mistakes of the past. Our minds will drive us to flee perceived risk and to be part of the crowd. Often, that is not rational. A much quoted study (Matthews and Wells, University of Cincinnati) discovered that 85% of what we worry about doesn’t actually occur.

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