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Ken Langone’s Time-Tested Investment Wisdom: “Don’t Bet Against America”

Renowned billionaire investor Ken Langone, co-founder of Home Depot, recently shared invaluable advice for younger generations entering the world of investing: don’t “bet against America.” Langone, speaking on FOX Business with Liz Claman on “The Claman Countdown,” emphasized the enduring strength and resilience of the U.S. market.

“I tell all the people I know, make the bet and make it for the long term,” Langone advised, encouraging investors to take a steadfast approach to their financial strategies. Despite his success, Langone acknowledged that, like many investors, he had his share of mistakes but highlighted the importance of learning from them.

Home Depot’s Remarkable Growth Story

Reflecting on his investment journey, Langone cited Home Depot’s exceptional performance. “Up until last week, Home Depot has compounded at 29% a year for 43 years,” he revealed, underscoring the remarkable success of the home improvement retailer since it went public in September 1981.

Key Principles for Success

Langone imparted key principles for aspiring investors, urging them to seek companies with “inherently good prospects” and strong management. Emphasizing the significance of long-term commitment, he advised investors to weather market fluctuations and capitalize on opportunities during market downturns.

Drawing on his 14-year investment in Parker Hannafin, Langone emphasized the potential for growth in seemingly underestimated companies. He highlighted the transformative journey of Parker Hannafin, initially perceived as a “sleepy old Midwest company” but evolving into much more.

The Pitfalls of Trading and the Power of Investing

Langone candidly shared his views on trading, stating, “I don’t know how to trade. Whenever I’ve tried to trade, I’ve always lost my butt.” Instead, he advocated for a more stable approach — identifying great companies, staying invested in them, and taking advantage of market breaks when possible.

“Invest,” Langone stressed, encapsulating his investment philosophy. His message resonates with the idea that long-term, strategic investment in fundamentally sound companies, coupled with resilience during market fluctuations, is a potent formula for financial success.

As Langone continues to inspire with his wealth of experience, his advice serves as a beacon for those navigating the complexities of the financial landscape, urging them to embrace the enduring potential of American markets.

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