Uncle Warren says, "Our favorite holding period is forever."
This has changed the way I view investing, acquiring skills, and developing new habits. Everyone understands the power of compound interest. Yet, most people don’t have the trust to hold a stock, without looking at its share price everyday and every week.
Do you think Warren Buffet, logs on to his Robinhood account every day to check, how his stocks are performing every day?
Absolutely not, instead he spends majority of the time looking at the company and its owner, to decide weather he’ll invest, and once he has decided, the stocks are held forever.
(Unless something happens internally)
I want you to view your investment portfolio the same way billionaire Warren Buffett views his. Don’t stress yourself, about AAPL’s stock being down 16% this week, if you’re checking in every day you’re nothing but a trader. (Just so you know have nothing against traders).
Uncle Warren, teaches us the importance of patience in life. In fact, a large amount of Warren Buffett's wealth was accumulated after his middle age. It took him years and years of patience, for his wealth to accumulate.
This concept is not just about investing in stocks but is applicable with building a successful life.
When you're trying to learn a new skill or habit, think of it as an investment in yourself. Just like stocks, it takes time to develop your skills and habits. You won’t see any immediate results in the first week, month, or even year. But over time, as you consistently invest in these habits and skills, they compound.
In both investing and life, the key is patience, understanding the long game.
Today’s take away: Play long-term games with long-term people.
Once again, thank-you for tuning in to the seventh episode. I hope you found it valuable.
I appreciate you reading, listening, and sharing it with others.
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Writing Day 7