Creative thinking can be taught. It can be learnt. It requires deliberate practice.
From the vantage point of the investor, staying power comes from:
- Large number of years left to invest.
- Ability to handle volatility through financial strength – low or no debt and significant disposable income preventing the need to liquidate portfolio during inappropriate times.
- A frugal nature.
- Ability to handle volatility through psychological strength.
- A very long-term view about investing.
- Structural advantages – investing your own money or other people’s money who will not or cannot withdraw it for a long long time.
- Family support during tough times.