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The ultimate superpower in investing
Patience is the ultimate competitive advantage
open.substack.com
It’s with this in mind that inveterate investors understand why identifying companies likely to exponentially increase free cash flow per share is a highly intellectual and psychological game. You have to understand the businesses in question better than the market does and persist in your thesis through severe, elongated, and emotional tests. It’s
... See moreCompounding is fueled by endurance, so sitting through market insanity is not a defect; it’s accepting an optimal level of hassle.
Morgan Housel • Page Not Found – Collab Fund
over a long time span, the impact of investment returns trump the impact of speculative returns.8