Hi Niclas,

I agree with that, but we might be referring to 2 kind different things:

- Investing: a long term investor invests in assets that he believes are likely to appreciate in the future (stocks, crypto, bonds). These assets generate some cash flow and over the lung run, they tend to appreciate.

- Short-term speculation: commodities futures, X, etc, is, in my view, not suitable for a long term "buy and hold." For this, I understand stop losses are essential... but being 100% honest, I've spent thousands of hours trading this kind of stuff and the lesson I learned is that it's incredibly difficult to be a long term successful trader.