The paramount importance of patience and a long-term mindset

Chapter 5 of "Getting a Better Class of Enemy", my investment book

I'm writing an investment book called "Getting a Better Class of Enemy - Money, Markets and Manias". As I write the chapters, they will be made available to paid subscribers to OfWealth. Previous chapters, along with the Preface and Chapter Plan, can be found by clicking on this link.

Regular readers will know that I often emphasise the importance of patience when it comes to investing. This is based both on my knowledge of financial theory and market history, but also from my own personal experience in the markets.

I repeatedly stress the need for patience because it's something that a great many private investors, especially new ones, seem to lack. This makes them their own worst enemies. Thus, cultivating a patient approach is crucial in order to improve eventual investment outcomes.

Being a patient investor can be hard. But nothing worthwhile is easy.

The aim of this chapter is to make a comprehensive case for why patience matters. But it goes beyond me just stating my opinion. I've tried to back up my claim with plenty of hard evidence. I hope you find it interesting.

As always, feedback from readers is encouraged.

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