Joel Tillinghast

“When I started, I didn’t realize that the biggest profits usually come from sitting on a great position — from doing what looks like nothing to the outside world. You have more time than you think, so be patient.”

“People who have had success in other parts of their lives have difficulty accepting how much failure there is in the stock market.”

“In investing, where doing nothing often prevents blunders, a certain style of laziness is adaptive, but mental laziness isn’t, and not thinking independently is absolutely toxic.”

“Call it humility, call it honesty with yourself, but failing to admit to investment mistakes means failing investing.”

“The best investors I’ve seen all have an above-average ability to change their mind.”

“I don’t think it’s productive to wallow in regret. But if you’ve lost money in a stock and you don’t learn anything, that’s wasted money. Figure out what it is that you did wrong and don’t do it again.”

“Stoic detachment combined with emotional awareness is the perfect combination for stocks. Feel the fear, but let reason decide.”