Part 3/7:
Principle Two: Play the Long Game
Investing is akin to running a marathon, not a sprint. Lewis warns against the common pitfall of cashing in on profits too early. For instance, consider the long-term performance of Amazon stock, which has seen over a 50,000% increase since its IPO in 1997. Investors who held their shares, despite temporary declines, significantly increased their wealth relative to those who sold too soon. The philosophy of "buy-and-hold" is key: focus on quality companies poised for long-term growth and resist the urge to react to short-term fluctuations.