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Buffett's success was built on patience from "summary" of The Snowball by Alice Schroeder
Warren Buffett's success was not achieved overnight; it was built on a foundation of patience. Throughout his career, he consistently demonstrated a willingness to wait for the right opportunities to present themselves. He understood that the best investments often required time to mature and that impatience could lead to poor decision-making. Buffett's approach to investing was characterized by a long-term perspective. He was known for holding onto investments for years, even decades, allowing them to grow and compound in value over time. This required a great deal of patience, as he had to resist the temptation to sell prematurely in favor of short-term gains. One of Buffett's key principles was to only invest in businesses that he truly understood and believed in. This meant taking the time to thoroughly research and analyze potential investments before committing any capital. He was willing to spend hours poring over financial statements and conducting due diligence to ensure that he was making informed decisions. In addition to being patient in his investment decisions, Buffett also demonstrated patience in his overall approach to wealth-building. He understood that building wealth takes time and that there are no shortcuts to success. Instead of chasing quick profits or trying to time the market, he focused on making sound, long-term investments and allowing them to grow steadily over time. Buffett's success was a testament to the power of patience in investing. By sticking to his principles and staying disciplined in the face of market fluctuations, he was able to build a fortune that has stood the test of time. His example serves as a reminder that success in investing, as in life, often requires a patient and steadfast approach.
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