After 26 years with AAII—and 286 issues of the AAII Journal—this will be my last. As of the end of December, I will be retiring.
This is a planned retirement, although I admit I had some serious doubts during last year’s market debacle. But I’ve weathered through several major market “crises” during my career covering the markets, and I have no doubt I will have to weather through a few more.
However, the one thing I continue to believe—and that has been confirmed through my own experience—is that the fundamentals remain the same. After years of preaching the advantages of a long-term approach that includes a diversified portfolio of stocks, eschews attempts at market timing and keeps costs to a minimum, I can now confirm that that approach can, indeed, help you reach your long-term goals.
After blowing the dust off my first-year collection of AAII Journals, I reread the note that I wrote in my first AAII Journal back in January of 1984—when the Dow was hovering around 1280.
In it, I included the following statement:
“My philosophy is that the best decisions come from those who have complete and reliable information and a good understanding of the field.
“The Journal will try to provide you with that information and understanding.”
I have spent most of my working life trying to fulfill that promise to AAII members, and I have thoroughly enjoyed everything about the process—from the knowledge gained through research, writing and assembling articles for the Journal, to the lessons taught by the markets themselves over the years, and the insights uncovered from a better understanding of the concerns of individual investors as expressed by AAII members.
I hope to continue some of that interaction on a much smaller scale through occasional contributions to AAII and the AAII Journal. But I admit I am now very much looking forward to enjoying some of the things I have not had time to do while working.
The AAII Journal will continue to provide you with both education and information under the able direction of Charles Rotblut, the new editor. Charles formerly worked as the senior market analyst for Zacks Investment Research, has considerable writing experience, and is a CFA charterholder.
I would like to thank all AAII members for your support over the years, as well as your interest in the articles provided in the AAII Journal.
Live long, and live well.
And many happy returns.