Thiru Posted September 1, 2014 Share Posted September 1, 2014 All, I am just starting into the field of value investing and while reading about Warren Buffett / Charles Munger / Philip Carret, they repeatedly mention the importance of patience. With regards to patience, I have few questions. I would be immensely grateful if the experts in the board can spend few of their valuable time in expaning on this. 1. What do Mr. Buffett / Mr. Munger / Mr. Carret mean when they say patience? 2. How is patience going to help in the investing process? Is it going to help when one says no to an investment and / or one selects to back up the truck and / or one decides to stay and / or increase the stake and / or decrease the stake and / or part with the stock and / or other scenarios? 3. Mr. Buffett and Mr. Munger mention about being honest with oneself. Given that, how does one find out for himself if he is patient? 4. If one realizes that he / she is not patient, what is the best way to improve patience? Hopefully this includes a robust form of feedback loop that tells him / her if he / she is going in the right direction. Sincere regards, Thiru Link to comment Share on other sites More sharing options...
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