Patience is a virtue in investing from "summary" of The Dao of Capital by Mark Spitznagel
The concept of patience in investing is not just a cliché, but a fundamental principle that can make or break an investor's success. Patience involves the ability to resist the urge to constantly monitor market fluctuations and make impulsive decisions based on short-term movements. It requires the discipline to stay the course, even when faced with uncertainty or volatility. Investing with patience means understanding that wealth creation is a long-term process that requires time to unfold. It involves setting realistic expectations and being willing to endure periods of underperformance without losing sight of the bigger picture. Patience allows investors to ride out market cycles and capitalize on opportunities that may not be immediately apparent. In a world where instant gratification is increasingly valued, the virtue of patience can be a rare and valuable asset. By resisting the temptation to chase quick profits or panic in the face of adversity, investors can avoid costly mistakes and position themselves for l...
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