1 fiduciary

   noun               fi·du·cia·ry             \fə-ˈdü-shə-rē, -ˈdyü-, -shē-ˌer-ē\

  1. one often in a position of authority who obligates himself or herself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care, candor, and loyalty in fulfilling the obligation.


We said a few weeks ago that volatility in the markets was getting all the press and that there are bigger issues in front of us.

Uncertainty is the name of the game. We get the latest news, but with no hint of where things go from here. I believe the news is a distraction for the long-term investor, which should include all of us.

Warren Buffet says that the ideal holding period for a stock is forever. For the long-term, diversified investor looking to fund the last third or quarter of their life, what happens today or next week is of no real concern. We take heart in the long-term results for the types of investments we have in our portfolios. The longer we hold a diversified portfolio, the closer we get to its long-term historical return. Regardless of what happens in the next few weeks, those that continue to exercise patience and discipline should take comfort in and expect long term success.

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1 Source: http://www.merriam-webster.com/dictionary/fiduciary

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