Top investing advice from many successful investors is to be resilient to stay in the game over a very long time which is sometimes referred as durability or staying power:

Learning # 1

Play the long-term game, so the focus should be on long term and not short term. Chasing higher returns or beating benchmarks should not be the primary objective. One must avoid disaster or complete ruin.

Learning # 2

In life and in investing do not depend on kindness of strangers in order to be resilient. One must reduce/ eliminate debt, be frugal, diligent and avoid leverage.

Learning  # 3

Make volatility your friend and respect uncertainty. No one can predict future as there will be chaos, disorder, surprises and volatility. We need to prepare to soften the impact by sticking to true asset allocation at all times.

Learning # 4

Be aware of overconfidence and complacency as this can make you fragile. Instead, there are traits like diligence, patience and humility that help build a temperamental edge in wealth creation journey. The intent should be to build small advantages over decades that compound into a snowball.

Learning # 5

We should always look for& assess the downside potential vs the upside and create adequate margin of safety. Ben Graham has a full chapter in his book The Intelligent Investor on the topic ‘Margin of Safety’. Graham concluded that buying undervalued assets would give investor “a better chance for profit than loss”. One word that describes the benefit of being a resilient investor is ‘Longevity’.

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