Be honest. How often do you check stock prices? Long-term investors understand that in the short run the stock market is a voting machine, and over the long term, it is a weighing machine. Given enough time, the value of the stocks they own depends on the success of their underlying businesses. If a company prospers, its stock price will rise. If it fails, its stock will fall. Wait long enough, and those outcomes are almost guaranteed. In the short term though, stock prices change every single day. And no matter how much of a long-term focus you have as an investor, it is easy to get caught up in the events of the day. Stock prices can move despite there being absolutely no news at all related to the company in question. Other times, there is some possible explanation for the rise or fall in stock prices. Understanding the behaviour of...