Generally speaking long term investing is the way to go. But unfortunately, some companies simply don’t succeed. For example, after five long years the C Cheng Holdings Limited (HKG:1486) share price is a whole 62% lower. That’s an unpleasant experience for long term holders. And some of the more recent buyers are probably worried, too, with the stock falling 50% in the last year. Furthermore, it’s down 21% in about a quarter. That’s not much fun for holders. However, one could argue that the price has been influenced by the general market, which is down 9.7% in the same timeframe.
To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the