Stock market crashes often test investors’ discipline, prompting many to buy or sell in a panic. However, legendary investor Warren Buffett has long advocated patience over impulsive decisions that investors may later regret.
In his 1996 letter to Berkshire shareholders, Buffett wrote, “If you aren't willing to own a stock for ten years, don't even think about owning it for ten minutes.” This makes one consider, even before buying a stock, whether they are comfortable holding it for a longer duration, thereby testing their conviction.
