Patience is a strategic advantage in investing. Marks advocates waiting for favorable conditions rather than chasing returns in overheated markets. He states, 'The market’s not a very accommodating machine; it won’t provide high returns just because you need them.' This principle underscores the value of disciplined, long-term thinking over impulsive actions. | Howard Marks | The Most Important Thing

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The Importance of Patience

Patience is a strategic advantage in investing. Marks advocates waiting for favorable conditions rather than chasing returns in overheated markets. He states, 'The market’s not a very accommodating machine; it won’t provide high returns just because you need them.' This principle underscores the value of disciplined, long-term thinking over impulsive actions.

-- Howard Marks