I started this blog in 2014 and from day one, I've shared one consistent message: stay calm, remain invested, and keep your eye on the big picture.
That's it. Simple, really.
Josh Brown wrote an article recently that inspired this one.
My thoughts echo his.
I too have written hundreds of posts, emails and social messages over the years about the philosophy of 'staying the course'.
My team and I have shared this sentiment in client meetings, at conferences, and it's pretty much all I talk about on LinkedIn.
It's been the foundation of everything we do.
So, in that time, what HAS happened?
Well, the numbers tell quite a story.
If you'd invested £100,000 in any of the major indices back then, you'd have done rather well.
The Dow Jones has grown from 6,500 to over 42,000.
The S&P 500 has multiplied by five, and the Nasdaq has done even better.
(Of course, you can't invest directly in an index, but index funds do the job nicely).
You'd be amazed by how many people have spent the last decade telling others to do the opposite.
They've urged people to avoid rallies, move to cash, and "manage risk". They've treated market volatility like something to be scared of, rather than a natural part of investing.
It gets worse.
These same people didn't just mock those who stayed invested during corrections - they sold false solutions. They pitched mysterious strategies and shiny solutions that would supposedly protect you from every market downturn while somehow capturing all the upside.
Nonsense, of course.
Now, it's easy to look back and say investing has been straightforward - after all, the chart looks great.
But here's the thing, you had to be in it to win it.
You had to ride both the ups and downs.
Stay the course. Each time the market fell, you were actually holding more than before, thanks to the gains you'd accumulated.
And you had to ignore the noise. It was always there, telling you to grab a life raft and row to safety.
But for those of us who understood this was never about avoiding volatility - but rather about accepting the risks that others wouldn't... you have earned your rewards.
So here's the most important thing I can tell you, whether you're just starting out or nearing retirement: choose your influences and 'noise' carefully.
Don't waste time on content designed to derail you from long-term success. Be wary of anyone offering shortcuts, easy answers, or promises of reward without risk.
Above all, understand the motivation of everyone giving advice, and decide if their incentives align with yours.
As Charlie Munger said,
"Show me the incentives, and I'll show you the outcome."
Charlie saw ninety years of investment incentives at the highest level - we'd probably do well to listen.
My message remains the same: take more risk today so you can take less tomorrow.
For those who've been with us since 2014, tomorrow may actually be here.