Good investing: The difference between patience and stubbornness

Two truths:

1. Every asset goes through temporary out-of-favour periods.
2. The world continues to change, and some things will fall permanently out of favour. Investing strategies that have worked for decades will stop. Industries will go through typical cycles, then they die.

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.