相信不少人都試過買入一檔自以為很便宜的股票後,股價繼續下跌,抑或久久未有回升。這時候,投資者的信念難免會被動搖,甚至認為自己部署失策。但進場後股價猛升,投資者又可能會覺得勝利在望,自己是投資聖手。不過,股價的短線波動甚少會反映出一檔股票的真實價值,若投資者過分執著進場後能否在短期內收鑊,就容易遺忘自己的進場部署,變成投機者。

股神巴菲特的看法值得參考:「我們不關心到底市場會否迅速就我們覺得便宜的股票作出調整。事實上,我們偏向便宜的股票會繼續下跌,因為大多數年間,我們都預期會有可動用資金作出投資。」(We are not concerned with whether the market quickly revalues upward securities that we believe are selling at bargain prices. In fact, we prefer just the opposite since, in most years, we expect to have funds available to be a net buyer of securities.)