Patience Is Not Only a Virtue…It Can Be Profitable

                                                                                                           Financial growth

The bond and stock markets have been stuck in a range for about the past 18 months.  The Dow Jones Average keeps moving back and forth between 16,000 and 18,000.  For investors, this can be very frustrating.  It feels like you are running in place and making no progress.

It has been said that patience is the greatest virtue. We live in a world where it seems that patience has been forgotten. In our “instant everything” world people want it all, and they want it now. They don’t think in terms of paying the price or investing for the long-term. They act on a whim, rather than follow a long-term plan.

Mountain View High School in Orem has always had a very successful track team with several runners nationally ranked. I asked their coach why his runners are so successful. I thought he would tell me strategies that help make his athletes stronger and faster. Instead, he shared with me his secret that was completely different than I expected. He said that much of their success comes from learning to pace themselves. They must have the patience to wait for the perfect time to make their final move to win the race. Counterintuitively, even in running, a sport that is built around speed, exercising patience is critical to success.

Every autumn I spend some of my spare time hunting for big game animals. I focus my efforts on finding animals that have “record book” potential. In order to locate them, I backpack into places rarely traveled. Often I come back empty handed. In my quest to find trophies, I have traveled to some very dangerous parts of the world. In order to succeed, I often hunt differently than traditional hunters. While there are several factors that contribute to my success, I believe that extreme patience is the most significant.

Patience is also a key attribute for successful investors, but…(read the rest of the story)

Originally published on Utah Valley Health and Wellness

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