Patience in Investing.... A Lot of It is In Your Head

You need the following qualities as an investor:

1. Unemotional. The best investment decisions are usually made when the news is the worst. It is probably the most uncomfortable decision you can make. Very few people will agree with your decisions. Fear is everywhere. 

2. Able to accept great uncertainty. Similar point to 1. On top of that, the time to sell is often when it feels the best. Most people are busiest buying an asset. News media is usually extremely positive. You will feel like a fool selling but that is the best time to sell. According to Warren Buffett, "investing is like sex, it feels the best just before it ends."

3. Patience. After investing in a stock, it sometimes falls in price. But if you cut loss too early, you will miss the biggest upside. It is not a misnomer when research says that you should stay invested, because missing out just 10 of the best performing days could reduce your performance by up to 3 to 4 percentage points per year.

4. Calmness, Meditation. I've taken up mindfulness meditation. Every morning I meditate, listen to the app, "Calm" to settle my mind. This is important as I can see things outside my own realm of reality. 

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