Be patient and disciplined in your approach from "summary" of Buffettology by Mary Buffett,David Clark
The key to successful investing lies in maintaining a patient and disciplined approach. This means resisting the urge to make impulsive decisions based on short-term market fluctuations or emotional reactions. Instead, focus on the long-term prospects of the companies you are investing in. By being patient, you allow your investments the time they need to grow and reach their full potential. This requires a willingness to weather periods of volatility and uncertainty without giving in to fear or panic. Remember that the stock market is inherently unpredictable, and trying to time the market is a risky and often futile endeavor. Discipline is equally important in investing. This involves sticking to a well-thought-out investment strategy and not being swayed by the latest investment fads or market trends. It means doing your due diligence before making any investment decisions, thoroughly researching companies and industries to ensure you are making informed choices. Warren Buffett himself is a prime example of the power of patience and discipline in investing. He has consistently followed a value investing approach, focusing on buying quality companies at a reasonable price and holding onto them for the long term. This approach has allowed him to build a substantial fortune over the years, despite facing numerous market downturns and economic crises.- Being patient and disciplined in your approach to investing is about staying true to your investment principles and not being swayed by external factors. It requires a level-headed mindset and a steadfast commitment to your long-term financial goals. While it may not always be easy, the rewards of sticking to your investment strategy can be well worth the effort in the end.
