The market is a device for transferring money from the impatient to the patient. But patience isn't passive — it requires the psychological discipline to do nothing when everything in you screams to act.

The sea does not reward those who are too anxious, too greedy, or too impatient. To dig for treasures shows not only impatience and greed, but lack of faith. Patience, patience, patience, is what the sea teaches.

The trick in investing is just to sit there and watch pitch after pitch go by and wait for the one right in your sweet spot. And if people are yelling 'Swing, you bum!' ignore them. There's a temptation for people to act far too frequently in stocks simply because markets are open every day.

The ability to sit quietly and patiently while everyone else is acting is not a passive virtue — it is the hardest-won competitive advantage in investing. Most of the damage investors do to themselves comes from the compulsion to do something when the right action is nothing.

The market is a device for transferring money from the impatient to the patient. But what most people miss is that patience isn't passive — it requires the active courage to hold while everything around you screams sell.

The big money is not in the buying and selling, but in the waiting. Patience is the virtue that is most rewarded in investing.

The big money is not in the buying and selling, but in the waiting. You have to be willing to let your profits run and cut your losses short.

The big money is not in the buying and selling, but in the waiting. You have to be willing to hold. Most people aren't.

The big money is not in the buying and selling, but in the waiting. You have to sit on your ass and do nothing.

The man who moves a mountain begins by carrying away small stones.

The difference between a business that compounds and one that doesn't is often not the brilliance of the idea, but the willingness to accept small returns for decades while reinvesting everything. Most people can't do this psychologically.

The big money is not in the buying and selling, but in the waiting. If you have the temperament, you can make a lot of money by sitting on your ass.

The best thing for your long-term results is to be boring. Exciting investing is likely to be bad for your wealth. Most of the time, the best thing to do is nothing.

The big money is not in the buying and selling, but in the waiting. If you have the capital and the patience, you can ride out the volatility and let compounding do the work.

Nature does not hurry, yet everything is accomplished. The apparent leisureliness of natural processes conceals an efficiency that frantic human activity can never match.

The big money is not in the buying and selling, but in the waiting. Lethargy bordering on sloth remains the best investment style.

The first rule of compounding: Never interrupt it unnecessarily. The second rule of compounding: Never interrupt it unnecessarily.

The big money is not in the buying and selling, but in the waiting. Lethargy bordering on sloth should remain the cornerstone of an investment style.

The big money is not in the buying and selling, but in the waiting. Investors often mistake activity for accomplishment.

The big money is not in the buying and selling, but in the waiting. Investors often confuse activity with progress—the most valuable thing you can do is simply sit with a good decision.