Great stuff here from John Boorman’s latest article:  Some Things I’ve Learned Over The Last 30 Years

A taste:

Limit orders limit performance.

I once worked for a PM who always put on limit orders. It was like chasing a bar of soap around the bathtub. Sometimes weeks or months later the order would still be on our desk, but the stock would now be way way higher. You either want to own it or you don’t. Is a penny here or there really the difference between whether you want to own it or not? Because your limit order is potentially making it exactly that.

I’ve held stocks for over a year and looked back at when I bought it. I could have bought it the next day, the next week, open, close, whatever. It wouldn’t have made a whole lot of difference. Unless you’re trading Cliff Asness/AQR size, for goodness sake, quit playing games with the HFT pikers. Just buy it and move on.

Read the whole thing:

Hat tip Charlie Bilello