A steady upward trajectory is the only logical path for the stock market because shares are proportionate ownerships in profit-making businesses, and over time profit accumulates.

Short-term price action means nothing and should mean nothing to you. Keep your focus on long-term business growth.

When analyzing a business, keep things simple.

If you decide to buy a stock solely based on price action, you cannot and will never have any faith in the company’s business.

Market quotes change every second, but business evolves steadily. You have ample time to evaluate a business to buy or not to buy. There is no rush.

Long-term price growth has three factors: yield, inflation, and business growth.

Nothing wrong with buying high PE stocks; however, expected business growth must justify the high price.

Buy the business, not the price.

Prices are easy to understand, and it is easy to isolate or pick assets based on prices. Understanding the businesses and analyzing the risk is complex.