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Patience is key in wealth accumulation from "summary" of A Random Walk Down Wall Street by Burton Gordon Malkiel
In the world of investing, there is a common saying that "patience is key in wealth accumulation." This idea is not just a cliché; it is a fundamental truth that has been proven time and time again by countless successful investors. The concept of patience in investing is closely tied to the idea of compound interest - the ability of money to grow exponentially over time. When you invest your money in the stock market, you are essentially putting your faith in the ability of the market to generate returns over the long term. While the stock market can be volatile in the short term, historical data shows that over the long term, it has provided solid returns to patient investors. One of the biggest mistakes that investors make is trying to time the ...
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