a simple investing lesson

Those who buy stocks at low valuations will very likely do well over 10-year periods, while those who buy expensive stocks very likely won't. Forget the crapshoot; we can now put the odds firmly in (or against) our favor.

The lesson here is simple, but it's probably the most important in all of investing. To reasonably assure success:

• You have to buy stocks when they're cheap.
• You have to hold them for a long time.

[Well you don't have to.  But if you do, you have a good shot of making money.  Oh yeah, you have to know what to buy.]