Part 3/10:
Warren Buffett expands upon this notion when discussing the psychological and emotional resilience needed to own stocks over extended periods. He asserts that prospective investors should only buy stocks if they are ready to hold them for the long haul, similarly to how they might approach farming—without anxiously watching the market's every move. Investors must be prepared for significant downturns, as illustrated by Berkshire Hathaway's historical price drops of 50% or more, proving that market values can fluctuate while the underlying company remains solid.