On one of the podcasts I listen to, I recently heard an interview with a successful stock picker. He was telling an oh-so-familiar tale about his biggest investment mistake.
He bought Amazon in 1998, and sold it for a 30% profit. He then bought it back again in 2002…only to again sell soon after.
Had he held on to his investment both times, he said, he could retire today.
I know of another investor that left at least $2,000,000 on the table because he sold Netflix way too soon.
Identifying the right company is important. But having the temperament and the patience to hold over decades is how you make a fortune!