buying CLH at $1.635, page-14

Some GREAT advise and quotes for long team investors.

December is a great time to reflect and refocus for the year ahead.
This is especially important if you’re feeling discouraged by the spate of recent share price falls like Primary Health Care Limited (ASX: PRY), or Collection House Limited (ASX: CLH) where my own stake is plummeting.
A quick way to grow as an investor is to studying the advice of those who have walked these paths before. So here are three quotes to help boost your resolve and steady yourself for the year ahead.
1. “The single greatest edge an investor can have is a long-term orientation” – Seth Klarman
In a world ruled by automated trading robots and million dollar fund managers, legendary U.S. investor and billionaire Seth Klarman reminds us of the value of having a long-term focus.
Warren Buffett has a number of similar quotes, but the message is the same; hold firm through the ups and downs, reinvest your dividends to compound your returns over time, and don’t worry about trying to outsmart the market.
2. “Know what you own, and know why you own it” – Peter Lynch
This simple quote exemplifies Peter Lynch’s simple, rational approach to investing. It’s a good place to start when reviewing your current portfolio.
Knowing what you own means understanding the company’s business and how it makes money. If you own QBE Insurance Group Ltd (ASX: QBE), for example, you should know that almost half the company’s “insurance profit” actually comes from investing policyholders’ funds.
You should also be able to explain why you own a company. My investment in Collection House Limited (ASX: CLH) may look shabby after recent falls, but it pays an attractive dividend and the company recently announced a valuable agreement with the Australian Taxation Office (ATO) which should help to sustain earnings.
If you can’t explain why you own a company, or the original reason for buying it has changed, it might be time to cut ties and start fresh.

By the Motley Fool.