Overview
Patience is an edge because so few have it. These lines capture the power of playing a longer game.
The quotes
Our favourite holding period is forever.— Warren Buffett
The clearest statement of long-term thinking: find something excellent and let it compound, rather than trading in and out.
It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.— Warren Buffett
Quality, held long enough, beats cheapness. A great business keeps compounding; a mediocre bargain stops paying off.
High expectations are the key to everything.— Sam Walton
Standards set the ceiling. Expecting more, consistently, over years, is what lifts an ordinary operation into an exceptional one.