This chapter assists the investor in comprehending various myths about investment, which are prevalent in the market. Historical data are littered with caveats, counterintuitive results, and no easy answers over the short- to intermediate term. Over the long term, the markets are much more consistent, but it requires a great deal of patience and discipline to remain a long-term investor when short-term instincts take over. The long-term average market performance is made up of many periods that are anything but average and plans on experiencing uneven results, frustrating periods, volatility, and the occasional crash. Financial market history can be useful in defining and managing risk, but it will never be able to explain how to make the perfect move at the perfect time.