This Is the Most Important Factor in Successful Investing

What is the secret to investing? Anyone who has ever purchased shares of a stock (especially a bad one) has likely pondered this question in one manner or another. There are so many attributes that contribute to successful investing. Knowledge is important. Understanding businesses, financial statements, and economics is crucial. But even the most studied investor won't reach the top echelons on these alone. There is a psychological component that is far more important: patience.

If you need a prime example, look to Warren Buffett. Buffett takes an incredibly long-term time horizon for his investments. Even now at nearly 90 years old, he looks at things from a perspective that will easily carry his plays beyond his lifetime. How many can claim to have that kind of disciplined resolve?

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Source Fool.com