Be patient and disciplined in your investment approach from "summary" of Common Stocks and Uncommon Profits by Philip A. Fisher
One of the most important qualities that an investor must possess is patience. Investing in the stock market is not a get-rich-quick scheme; it requires time for your investments to grow and mature. By being patient and not succumbing to the temptation of making quick gains, you can allow your investments to reach their full potential. Furthermore, discipline is crucial in ensuring that you stick to your investment approach even in the face of uncertainty or market fluctuations. It is easy to get caught up in the emotions of the market and make impulsive decisions that can harm your portfolio. By being disciplined and following a well-thought-out investment strategy, you can avoid making rash decisions that could negatively impact your returns. In his book, Philip A. Fisher emphasizes the importance of having a long-term perspective when it comes to investing. By focusing on the long term and not being swayed by short-term market movements, you can avoid the pitfalls of trying to time the market. Instead, you can reap the benefits of compound interest and the growth potential of your investments over time. Having a long-term perspective also allows you to ride out the inevitable ups and downs of the market without getting shaken out of your positions. By staying committed to your investment approach and not giving in to fear or greed, you can weather market volatility and come out ahead in the long run.- Being patient and disciplined in your investment approach is essential for long-term success in the stock market. By staying true to your investment strategy, maintaining a long-term perspective, and avoiding impulsive decisions, you can increase your chances of achieving uncommon profits in the market.
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