What character or way-of-being should an investor most want to master?
The answer is PATIENCE. Like an asset category that gives investors positive rates of return, investing with patience may be an investor’s greatest ally. Conversely, a lack of it could be their worst enemy.
Dalbar’s annual study of investor behavior reveals global investors lean toward short-term investing, expecting to hold investments for a little over three years on average. Less than a fifth of investors hold investments for at least five years. In the context of implementing a successful investment strategy, this is not investing with patience.
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