“Far more money has been lost by investors trying to anticipate corrections,
than has been lost in the corrections themselves.” & Peter Lynch, 1944 – present, legendary manager of the Fidelity Magellan fund
Change Is the Investor’s Only Constant
The pre-Socratic Greek philosopher Heraclitus of Ephesus (c. 535 BC) was known to his contemporaries as the philosopher of eternal change. While very little of his work has been preserved – only fragments of his writings exist – his philosophy can be summarized in just two Greek words: ‘Panta Rhei’, which translates to ‘everything flows’, and is often rendered as ‘change is the only constant’.
First uttered over 2,500 years ago, Heraclitus’ wisdom still rings true today, particularly in light of 2018’s choppy stock market, which signaled a sentiment change on Wall Street and reminded investors that markets can and do go down from time to time.
