Good things come to those who wait.
Especially when it comes to investing.
If you asked me what the most important trait is for anyone to be a successful investor, I would say, hands down, patience.
It is in our nature, as humans, to speed rather than go slow. And we crave instant gratification over waiting.
However, you will have a hard time succeeding as an investor without patience. Investment themes take years – and oftentimes decades – to play out.
You may own a company that just sits there during a blistering bull market, causing you great frustration. It would be easy to say, “The hell with this stock! I’m going to buy another.”
More times than not, that would have been a mistake.
Case in point: For three years, I had been watching a company called Madrigal (NASDAQ: MDGL). From 2015 to 2017, it was like watching paint dry. It traded between $15-$17.
By the middle of 2018, Madrigal stock was $300.
It took years for the investment thesis to play out. But once it did, the stock exploded.
My book, The Stock Market is For Everyone, is a short guide for the beginning, inexperienced investor that is easy to understand and can be put into action immediately.
Click here to be taken to its Amazon page.
(Disclosure: As a participant in the Amazon Services LLC Associates Program, I earn a small commission on each sale generated through these links.)