Patience and discipline are essential virtues for contrarian investors from "summary" of Contrarian Investment Strategies in the Next Generation by David Dreman
Contrarian investors must possess the virtues of patience and discipline in order to succeed in the market. These qualities are crucial for navigating the ups and downs of the market and seizing opportunities that others may overlook. Patience is required to withstand the volatility of the market and wait for the right moment to make a move. Without patience, investors may be tempted to make hasty decisions based on emotions rather than logic. Discipline is equally important for contrarian investors. It involves sticking to a well-thought-out investment strategy despite fluctuations in the market. Discipline helps investors avoid impulsive decisions that could lead to losses. By staying true to their strategy, investors can weather short-term fluctuations and focus on the long-term poten...
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