This applies to all investing! “Because most people are in a rush, because they can’t be like Charlie and wait five years for the right long-term investment—at the right price—to show up, and since most of the time stocks sell at prices in excess of their intrinsic value, most investors end up overpaying for the stocks they are buying. So my question to you is this: Are you one of the 99% of investors who are in a rush and end up overpaying for your investments? Or are you part of Charlie’s 1% club who have the patience to wait five years, if necessary, to find the right long-term investment selling at the right price?” Tao of Charlie Munger. -David Clark