In addition, Pat thinks then beginner investors should cultivate two important qualities: a healthy sense of skepticism and patience.
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Investors should approach all investments with a healthy sense of skepticism. This can help keep you out of fraudulent stocks that masquerade as high-quality stocks. It will also keep you out of legally operated, but poorly managed, companies that promise more than they can possibly deliver.
If you are a new investor, you should also realize that losing patience can cause you to sell your best choices right before a big rise. All too often, investors buy a promising stock just as it enters a period of price stagnation. Even the best-performing stocks run into these unpredictable phases from time to time. They move mainly sideways in a wide range for months or years before their next big rise begins. (Stock brokers often refer to these stocks as “dead money.”)
If you lack patience, you run a big risk of selling your best choices in the midst of one of these phases, prior to the next big move upward. If you lose patience and sell, you are particularly likely to do so in the low end of the trading range, when stock prices have weakened and confidence in the stock has waned.
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In fact, Travel + Leisure is now hitting new all-time highs for our subscribers! Wyndham Hotels soared to its own record high of $110.94 in February 2025—although it has since moved down to today’s price.
Meanwhile, the outlook for both stocks remains positive for investors, despite some near-term economic and consumer confidence uncertainty in the U.S. market. Pent-up demand for travel remains strong, and both companies have lots of opportunity to expand.
I asked our Successful Investor research department to draw up this Inner Circle Spotlight report on both Wyndham, and Travel + Leisure to explain why we think both of these stocks have bright prospects ahead. We hope you enjoy and profit from it.