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Success in investing requires patience from "summary" of A psicologia financeira by Morgan Housel
Many people think that investing success is all about finding the next hot stock or predicting the next big market move. They believe that if they can just time the market right or pick the right stock, they will be able to make a fortune. However, the reality is quite different. Investing success is not about making quick gains or getting rich overnight. It's about having the patience to stick with your investments through the ups and downs of the market. It's about understanding that investing is a long-term game, and that trying to time the market or chase after the latest fad is a surefire way to lose money. One of the most important things you can do as an investor is to have patience. This means being able to withstand short-term fluctuations in the market without panicking or making rash decisions. It means having the discipline to stick to your investment strategy even when it seems like the world is falling apart. Patience is what allows you to ride out market downturns and stay focused on your long-term goals. It's what prevents you from selling your investments at the worst possible time or making impulsive decisions based on fear or greed. It's what allows you to take a step back, evaluate your investments rationally, and make decisions based on logic rather than emotion. Successful investing requires a long-term perspective and the willingness to stay the course even when things get tough. It requires the ability to resist the temptation to constantly tinker with your portfolio or chase after the latest investment craze. In the end, it's those who are able to cultivate patience and discipline who are most likely to achieve investing success.
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