The Power of Yawns
August 21st
Failing conventionally is the route to go; as a group, lemmings may have a rotten image, but no individual lemming has ever received bad press.
Investing often feels like a pursuit of applause - the recognition that comes from successful short-term gains and the affirmation of others. Such applause, however, can lead us astray, causing us to prioritize instant reward over longer-term sustainability.
The subtler, less celebrated moments in investing are what Buffett highlights as the path to true success. These "yawns," or slow, steady progress of well-thought-out investments, may not generate much immediate excitement or attention. Yet, over time, they yield consistent, reliable returns. These are the unassuming, often overlooked decisions, the ones that form the bedrock of a solid investment portfolio.
In the long run, it's the quiet, consistent effort that proves to be most rewarding in investing - and in life. The challenge lies in stepping away from the need for immediate affirmation, from the lure of the applause, and instead, appreciating the value of patience, persistence, and the wisdom of well-considered decisions.
Copyright © 2023 by Scott Sansovich