“It's waiting that helps you as an investor, and a lot of people just can't stand to wait”
— Charlie Munger
Simplified Meaning:
Being a successful investor often means being patient, but many people find it hard to wait. Imagine planting a tree: you have to wait for it to grow and produce fruit. If you dig it up too soon, you never get to enjoy the fruit. The same goes for investing money in stocks or other funds. You need to wait for the value to grow over time. For example, if you invest in a company and want to see it flourish, it may take years before it starts making good money. If you rush to sell your shares because you're impatient or worried, you'll miss out on the profits that could come later. Just like waiting for that tree, patience in investing is crucial because good things often take time to develop. Those who can wait tend to see better results than those who can’t. So, if you're investing, remind yourself to be patient and think of the long-term benefits.