Investing is a Marathon, Not a Sprint

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I learned most of the thoughts in this investment discussion from Ben’s book The Intelligent Investor, which I bought in 1949. My financial life changed with that purchase.

Before reading [Ben Graham’s] book, I had wandered around the investing landscape, devouring everything written on the subject. Much of what I read fascinated me: I tried my hand at charting and at using market indicia to predict stock movements. I sat in brokerage offices watching the tape roll by, and I listened to commentators. All of this was fun, but I couldn’t shake the feeling that I wasn’t getting anywhere.

Investing for the future is a marathon, not a sprint. Few investors are more disciplined in that single piece of knowledge than Warren Buffet himself.

Buffett’s annual letter: What you can learn from my real estate investments.

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