John M. Jennings, JD, President and Chief Strategist of St. Louis Trust & Family Office (a firm we like and respect) and regular contributor of rockstar content, shares three rules to follow during periods of market volatility. For most, they will sound like familiar “Take the Long View” advice. In fact, we thought John was about to invoke our mantra in rule #1. Click here to read what Jennings has to say.

There is so much here that my head is dizzy. Take 10 minutes and absorb the profound wisdom in Morgan Housel’s little rules about big things.

Speculating and investing are fundamentally different, and it pays to know why.

Speculating is exciting, full of breathtaking ups and downs. If you chart it over time, it looks like a heartbeat. Probably an elevated one.

Investing, on the other hand, is slow and boring. In the short term, you may have some ups and downs. But if you chart investing over time (over many years of time), it looks like a long slow curve upward.

Speculating is like a Vegas casino. Investing is like watching grass grow.

Know which game you’re playing.