Stanley Druckenmiller on patience and investing

I think it's one of the most important things to do is not to play when you don't see a fat pitch.

~ Stan Druckenmiller

Thomas Phelps on patience and investing

To make money in the stock market you must have the vision to see them, courage to buy them and the patience to hold them.  Patience is the rarest of the three.

~ Thomas W. Phelps, 100 to 1 in the Stock Market (1972)

Chris Mayer on the patience required of long-term investors

Holding on requires a belief in some future that is not here yet.  Pessimism focuses on known problems and what’s right in front of us.

~ Chris Mayer, "Hold Fast: Tips for 100 Baggers," May 9, 2022

Charlie Munger on investing and low time preference

It’s waiting that helps you as an investor, and a lot of people just can’t stand to wait. If you didn’t get the deferred-gratification gene, you’ve got to work very hard to overcome that.

~ Charlie Munger

Confucius on achieving long-term goals

Do not wish for quick results, nor look for small advantages.  If you seek quick results, you will not reach the ultimate goal.  If you are led astray by small advantages, you will never accomplish great things.

~ Confucius

Robert Olstein on patience and investing

The desire to perform all the time is usually a barrier to performing over time.

~ Robert Olstein

Jesse Livermore on patience and investing

I've found that the big money was never made in the buying or selling, was made in the waiting.

~ Jesse Livermore

Warren Buffett on patience and investing

The stock market is a device for transferring money from the impatient to the patient.

~ Warren Buffett

Warren Buffett on the value of patience in investing

Wall Streets makes its money on activity, you make your money on inactivity.

~ Warren Buffett

Blaise Pascal on boredom

All men's miseries derive in not being able to sit in a quiet room alone.

~ Blaise Pascal

Rick Rule on investing, patience, and time arbitrage

The old guys..., those few who have been really, really, really successful, always seem to invest for the 5 to 6 year time frame.  My suspicion is that time arbitrage, that is aligning your preferences with the reality of the investments that you are making, is one of the most important determinants of success.  Some people believe that because they want something to happen in the near term, that their wants are germane.  And they're not.

~ Rick Rule, "The Time for Value Stocks is Here," Stansberry Investor Hour, 30:15 mark, April 16, 2020