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Click this link and listen to Ian Jessop and I talk about how to value your business. We’re on monthly on the first Monday each month at 2:30pm talking entrepreneurship.

Be sure to fast forward to about 32 minutes.

 

 

I always enjoy listening to Michael Campbell’s Moneytalks show on Saturday mornings. He’s very good. However, today I heard an ad from an investment advisor who is a regular advertiser. The advisor said with great confidence and authority, “now is not the time to buy and hold”.

I couldn’t disagree more.

If you buy great companies at fair prices there should be no reason to sell. In fact if there’s a general market sell off that causes a downturn in the price of a great company it’s not a trigger to sell, it’s a trigger to buy more!

Benjamin Graham, Warren Buffett’s mentor, says in his book The Intelligent Investor, “the real money in investment will have to be made – as most of it has been in the past – not out of buying and selling but of owning and holding securities, receiving interest and dividends and increases in value.”

Now that is good advice!