Let me share a story that highlights one of the most important decisions every investor faces.

A client of mine had built a £400,000 portfolio by concentrating on high-growth U.S. tech stocks. For five years, his strategy worked brilliantly—he was the classic hare, racing ahead during a booming market.

But within just 12 months, he lost 25% of his portfolio—even as the broader market was reaching record highs.

What changed?

Not the fundamentals of the companies he owned, but rather market sentiment and timing. That’s the risk of relying purely on growth: it’s fast… until it isn’t.

Now, contrast that with dividend-focused investors—the tortoises. Even during turbulent markets, they continue to receive regular income, reinvest their dividends, and avoid emotional decisions like panic selling.

There’s no single “right” approach—but it’s worth asking yourself: which one feels more sustainable over the long term?