Belleville, IL – Tom Dwartty is like many other investors. He’s a buy and hold investor who stuck it out through the great crash of 2020. A seasoned veteran of markets and big fan of Warren Buffet, Dwartty knew that the best move was to do nothing and wait out the correction. And boy was he right. To the tune of an 80% gain in 2020 which only puts him ahead of people who went short in March and April.
“The average return of the S&P 500 is around 7-8% so you can imagine how happy I am that I did 80% last year. But speaking with all my friends it turns out I haven’t come close to doing what any of their teenage kids were able to do,” said Dwartty shrugging his shoulders.
It turns out he is right as we got in touch with said friends who confirmed that while Dwartty’s slow and steady approach might work in downturns, he is objectively the worst performer of their group.
“I opened up a Robinhood account for my son and put $2000 in just so he could learn about the markets and would give him something to do during the lockdown. He just bought things he liked and ended up making 312%,” says friend Tom Evans.
When asked whether he’s at all worried about underperforming nearly every person Dwartty was steadfast. “Come back in 25 years and ask me that question. I think my results will be a lot better then.”