Perseverance is the temperamental quality that is even more important to investing than talent or education. Without the courage to “press on” in life, no matter what, all other qualities and skills don’t make any difference. You’ll never even be able to get to the point of unleashing your potential if you don’t have perseverance.
Patience is another way of showing courage and emotional stability. Sometimes in the investment world, you make money by simply waiting.
Planning is something most people forget to do. A true investor always has a long-term plan in mind that mirrors his investment philosophy. Like Buffett once stated: “An idiot with a plan can beat a genius without a plan.” I would add that with a “plan”, “perseverance”, and “patience”, each of us can get more things done and get where we want to in life.