When you invest your hard-earned money, of course you hope to end up with more than when you started. Better yet, you would prefer to NOT give up returns you could have had by investing optimally.

But what is “optimal” investing? It’s not about pursuing an active investment strategy – i.e., trying to consistently pick winners, dodge losers, and accurately forecast when to be in and out of up and down markets. Nor is it about hiring an active manager who thinks they can do the same. The evidence is clear: The challenges of active investing are more likely to set you back than advance your interests.

For the past several years, Dimensional Fund Advisors has been tracking mutual fund track records in “The Mutual Fund Landscape.” If anything, the terrain keeps getting  tougher. This year’s report found that, across 15 years ending December 2017, only half of the stock funds in existence at the beginning were even around at the end, and only 14% were able to survive and outperform their Morningstar benchmarks.

The moral of the story: To run a successful marathon it’s better to pace yourself than chase the wind. Same thing for your wealth. Take the Long View®.

While the more familiar expression, “no pain, no gain,” may apply to many parts of life (such as my first half-marathon), sometimes pain is just pain, with no gain in sight. When that’s the case, shouldn’t you do something to avoid it?

That’s the point of a recent video produced by our friends at Dimensional Fund Advisors, “Tuning out the noise.” The first minute is admittedly stressful; it evokes the angst many investors feel when they try to navigate nerve-wracking markets on their own. Bear with it though, because you have much to gain from the video’s message: By showing investors how to Take the Long View® with their investments, our aim is to help people tune out the pointless pain, look past the daily fray, and get on with investing toward their lifetime goals.

Check out the video for yourself. Or, if you prefer to read rather than watch, here’s an article Dimensional produced along the same theme. Last but not least, if you could use some rational advice to cut through the clamor, we’re here to listen.

We’ve all been there, done that: When the markets grow volatile, they can literally make your stomach churn. As a team member of Hill Investment Group, I know better than to get too hung up on the never-ending breaking news in the popular financial press, but I do still find it helpful to read the perspectives of other thought leaders who are as committed as we are to evidence-based investing.

Here are two such pieces published during the recent jolts of market volatility. I found them helpful; I hope you do too:

“When Investing in Stocks Makes You Feel Like Throwing Up and You Do It Anyway,” by Jason Zweig of The Wall Street Journal

Zweig reflects on how awful it felt to stay invested during the Great Recession, but how glad he is now that he overcame his deepest doubts: “A happy few investors, among them Warren Buffett, his business partner Charles Munger and their mentor Benjamin Graham, may have long-term thinking built into them by nature. The rest of us have to cultivate it by nurture.”

“Some alternatives to Evidence-Based Investing,” by Josh Brown, the Reformed Broker

Satire can be a great healer. Here, Brown lists some of the “better” tactics people use instead of evidence-based investing and concludes: “The harvestable errors of emotionally unaware people in the marketplace are a bumper crop for the patient, the sane and the disciplined.” Tough but true love about the wisdom of evidence-based investing.