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My epiphany is.......... patience.
Pretty boring but I tell you what its my new investing secret
John Quincy AdamsPatience and perseverance have a magical effect before which difficulties disappear and obstacles vanish
Okay, I like it but it makes me want to ask more questions:My epiphany is.......... patience.
Pretty boring but I tell you what its my new investing secret
Patience and Time do more than strength or passion.
Like Buffet says, when there's nothing to do, do nothing.
It's hard for many to do, yet, like you say, it can be a powerful strategy.
I know a lot of people who, when confronted with an opportunity to sit and wait for time and compounding to do it's magic, they get bored or frustrated and start going to seminars to learn new "cash flow secrets" or "Forex trading secrets" and before they know it, they've burned the gains they made in their core investment strategy.
* So how are you going to work it into your investment strategy?
* How will your patience move things along now that wouldn't have before?
* What can you do to help you get through the "boring" bits?
... the old joke about the young bull and the old bull, i'm sure most of you have heard it.
That's one of the best jokes I ever heard. First heard it on that movie 'Colors'.
John Quincy Adams
I've met alot of elderly gentlemen out here in the industrial backblocks, many of them Greek and Italian, and without fail, one of their strongest tactics when things go awry is to sit and do nothing. Minor blow-ups and crises seem to just disappear if they spend 6 or 12 months ignoring "the problem".
Obviously this isn't an elixir for everything, but it sure does work for most things. Owning good properties that they purchased for a song back in the mid 60's gives you that unique time perspective, where nothing is a drama anymore. Patience - they have truckloads of it.