To make money from equities, not just patience, but extreme patience is required.
Even last piece I wrote on patience. I’m continuing with the same. Why?
Patience is the most difficult virtue to develop. As I’ve said before, the origin of the word patience means suffering. To be patient is to suffer.
By nature, we try to avoid pain. But nothing worthwhile is ever achieved without going through pain.
Markets may not give any returns for three years and give three year returns in the fourth year.
Gains are never linear but always lumpy.
Markets can test our patience to the extreme. Only those who are able to bear the same are rewarded well.
Investors who are impatient seldom make money from markets.
Those who are with us for long are still seeing good returns.
Those who have become clients in the last few years are staring at bad returns.
Things will definitely change. Over a ten year period, the results would be good.
I cannot predict when markets would start going up. All I know is, in a decade, you would have more good years than bad years and the overall results would meet your expectations.
I can motivate and handhold you. But it is you who need to develop the required virtues.
Stay the course with faith. You would be amply rewarded.