This Week in the Stock Market ...

You know how I told you to rejoice in market corrections? It's been an all-out party at our offices this week. Some of our favorite stocks, that we have watched for years in some cases, have fallen to prices that I could only dream about a few months ago. The volatility in the markets has been extraordinarily high, with huge fluctuations in the value of our holdings. For those of us who are focused on long-term wealth building - and this should include all of you! - that didn't matter. Who cares if a position drops by 25% if you want to own it for a couple of decades? That's how we've felt about our long-term stakes in some blue chip stocks that I've written about in the past.

If you sell your stocks now, or stop dollar cost averaging, in the long-run, history has shown that you are making a horrible, horrible mistake. You cannot time the market. Don't try. Focus on the businesses you want to own, and use your cash to buy as many shares as you can afford given your circumstances and outlook (you should never put money in the stock market that you need for your living expenses or for short-term needs.)