Many people in the stock market are driven by emotions such as fear, greed, or panic. They may be tempted to buy or sell stocks based on short-term market fluctuations, news events, or rumors rather than a long-term investment strategy. Such impatience can lead to buying stocks at high prices or selling stocks at low prices, resulting in losses.
On the other hand, investors who are patient and disciplined tend to have a long-term investment horizon and are less likely to be swayed by short-term market fluctuations or noise. They may hold onto their stocks for years, allowing their investments to grow. This patience can lead to higher returns and profits.
Thus, Warren Buffett's quote suggests that in the stock market, those who have the patience to hold onto their investments for the long term are more likely to earn profits, while those who are impatient and seek quick gains are likelier to lose money.
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