The Tao of Warren Buffett and Patience
Warren Buffett’s invests as if he’s playing baseball but unlimited strikes. As if he’s at home plate, getting ready to swing, and in finding where he wants to invest, he imagines that he has unlimited strikes. He can stay at bat and wait as long as he wants. He can watch 100 strikes go by before he has to decide to swing and invest. In fact, he never has to swing if that perfect pitch doesn’t come through.
When he’s looking for an investment, he waits for a pitch that’s a great big baseball, softball, or volleyball coming real slow and right down the middle—then he takes a swing.
The idea of finding what we want by taking our time, can be very valuable. It’s important that we define our wants and needs before we step up to the plate. We can ask for help from advisors, from a mastermind group, from friends and family, but we really want to define what we want. Then, we can be patient and make sure we swing only at the right pitch.