Good things take time

I've long believed - or rather, I've known it to be true - that investment success or failure is entirely about the investor's psychology. We might say that so and so did badly because of wrong asset choices, mistiming the market or a bad economy, but those are just proximal causes, the symptoms. The root cause is always the investor's own mindset, knowledge and attitude. Of course, this is true not just in investing but in many other aspects of life. In fact, it's genuinely fascinating how human beings can simultaneously know something to be true and yet act as if they don't believe it at all. Exercise is perhaps the most obvious example of this peculiar disconnect. We all know - with absolute certainty - that regular, intense physical activity is essential for our health. The evidence is overwhelmin