The PSEi closed at 7,958.63 today, down by 43.69 points from yesterday’s close.
The market has been in this level, close to the 8,000 level for the past few days now. For us long term investors, we really don’t care about the daily movements of the PSEi. We are concerned about the long term outlook of the market and it’s in these price movements that the cost averaging method is most effective. It’s in the ups and downs of the market that we get a better average.
Since we are not traders, we don’t monitor the PSEi on a daily basis, what’s important is that we are able to invest fixed amounts at regular intervals. In the end, our patience will bear fruit and we will reach our goals of retiring as millionaires.
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