Excess Returns · Tuesday, July 7, 2026
Matt Zens of Longview Research Partners explains that the discomfort experienced during market downturns is what ultimately rewards investors who stick with their strategy. He notes that people often overestimate their ability to handle volatility in hindsight.
“If it didn't feel bad, if it wasn't painful to keep holding it, you wouldn't get rewarded with higher returns.”
“And so it's that discomfort is what actually drives the return that you get if you're actually able to stick with it for the long term.”
“"No pain, no premium."”