Wednesday, March 11, 2009

Great quote from Tobin Smith's newsletter regarding investing in today's fearful markets

As Ambrose Hollingworth Redmoon (deceased manager of the legendary rock bank, Quicksilver Messenger Service) aptly wrote: 

"Courage is not the absence of fear, but rather the judgment that something else is more important than one's fear. The timid presume it is lack of fear that allows the brave to act when the timid do not. But to take action when one is not afraid is easy. To refrain when afraid is also easy. To take action regardless of fear is brave." 

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