Longtime fund manager Hersh Cohen says investors are far too myopic, and allow short-term market swings to drive decision-making in ways that often lead to underperformance. Cohen also tells WealthTrack’s Consuelo Mack that the rapid trading taking place in today’s market has led to more random market swings. And that’s led him away from chasing strength, because strength “can be random” in the short term. Instead, he says he waits for weakness so that he can buy the companies he’s interested in when they are trading at attractive values. Cohen also talks about why individual investors have big advantages over fund managers, and offers some of his favorite picks among stocks with strong balance sheets and rising dividends.

[youtube=http://www.youtube.com/watch?v=FrAgWGNGPKY]