Part 12/14:
Most investors chase excitement and viral gains, but the smartest long-term strategies are often boring—focused on stable businesses and assets that can survive downturns. In times of crisis, patience and rigidity in sticking to proven principles allow one to capitalize when others panic. True power lies in having cash and the discipline to wait out the storms.
Avoiding Major Losses—The True Path to Wealth
The most crucial element in wealth accumulation is avoiding large losses. Compound growth benefits those who preserve their capital over time. Inflation silently erodes purchasing power; thus, investing in tangible, productive assets—factories, utilities, consumer staples—ensures your wealth maintains its relevance and value.