Most good investing is about keeping your investment for the longest time possible. If you want to buy an investment just because its price went up, you probably don't know why it went up and will sell when it goes down.
Refrain from the need to own whatever goes up the most. Someone will always be richer than you, and that is okay.
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While patience is vital in investing, you should not use it blindly in every situation. While some behaviours never change, the composition of the economy does.
A rare skill is to align your peak-wealth years with a generational collapse in interest rates, the Fed becoming comfortable with quantitative easing, and falling marginal tax rates.
Also, the ability to understand the historical context of what it was like in other times will help you appreciate what's possible.
Investors on the same field often play different games. Even investors who think they're playing the same say have widely different goals and risk tolerances.
Most investing debates reflect investors playing different games and missing each other in conversation. Investing power is knowing what game you're playing without being swayed by people playing different games.
It is therefore essential not to mind when your investments hurt you at times.
The risk of unpleasant things happening is always there for everyone, and though it seems that job loss, divorce, financial fraud etc. only happens to other people, no one is exempt from these things, given enough time.
History is a treasure-house of learning, and as many books teaching us lessons from history point out, what was true in the medieval ages is often true even now, though the circumstances, technology and society have gone through a sea of changes.
The things that are worth knowing are those which hold steady and true then and now.
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