By Chad Creveling, CFA and Peggy Creveling, CFA
We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten. - Anonymous saying
The above often-repeated saying can be applied to many areas of life. When it comes to investing, we frequently see people overestimate what they can achieve in any given year and underestimate what they can achieve in the long term - often to their detriment.