Invest With Daniel Pecaut: Investing In Stocks, Personal Development, Relationships, Meditation And Yourself

In this episode, I continue to discuss patience in more depth.  Understanding patience is the third lesson that's absolutely essential (in addition to Ownership and Don’t Lose) if you're going to be an entrepreneurial investor and active in trying to manage your affairs.  Moliere said, "The trees that are slow to grow bear the best fruit."    As I reflect on the lessons I've learned over the past 34 years, it becomes clear that everything of value is in service to maximizing the process of compounding wealth.    The trick with compounding is that it takes time and it’s a matter of delayed gratification. So patience is essential if you're going to be an entrepreneurial investor and actively trying to manage your affairs.   A farmer would find it ludicrous to run out, dig up the seed every week to see how it's coming along. As long as inputs such as soil, sun and water are adequate, he knows the process will bear fruit in good time. There's no hurrying mother nature.    Similarly, the world’s wealthiest individ