What separates the men from the boys in investing is patience.
"What separates the men from the boys in investing is patience. Jesse Livermore always talked about how very few people kept their position for the duration of a bull market. Most people either sold too early to lock in profits or they sold too early after a shakeout. As I’ve said, 20%-30% corrections are normal; in bull markets all timing mistakes are forgiven as long as you hold your position.
"Right now we’re in a sort of “no man’s land” in gold. A break below $1600 is bearish and suggests new lows are coming. But this is the preferred scenario because the upside volatility will tend to match the downside volatility. Would you rather have gold rally here to $1900-$2000 for a 15% gain or would you rather be a buyer at $1300 on the way to a rocket launch to $2500? Buying large cap miners at $1300 will be very similar to buying blue chips like Apple and Coca Cola anywhere between late 2008 to early 2009."
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