Carlo Campus @CarloCampus: "⏳ 𝗪𝗵𝗲𝗻 𝘁𝗼 𝗪𝗮𝗶𝘁 𝘃𝘀...."

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⏳ 𝗪𝗵𝗲𝗻 𝘁𝗼 𝗪𝗮𝗶𝘁 𝘃𝘀. 𝗪𝗵𝗲𝗻 𝘁𝗼 𝗔𝗰𝘁 𝗙𝗮𝘀𝘁 I recently watched a fascinating clip of Warren Buffett (with Greg Abel) discussing the balance between 𝗽𝗮𝘁𝗶𝗲𝗻𝗰𝗲 (a core principle of his investing style) and the need to 𝗮𝗰𝘁 𝗾𝘂𝗶𝗰𝗸𝗹𝘆. Buffett shares an incredible anecdote from the 1960s regarding a business acquisition. The deal was ridiculously good, and the opportunity arose because the manager didn't get along with his partner's widow and wanted to sell quickly. Buffett immediately understood the value and the seller's psychology, deciding to 𝗰𝗹𝗼𝘀𝗲 𝘁𝗵𝗲 𝗱𝗲𝗮𝗹 𝗶𝗻𝘀𝘁𝗮𝗻𝘁𝗹𝘆 alongside Charlie Munger. Buffett explains that patience is needed to wait for the right call. But when an obvious opportunity presents itself (like the one described), you must not hesitate, and you must be willing to 𝗮𝗰𝘁 𝗶𝗻 𝘁𝗵𝗮𝘁 𝗽𝗿𝗲𝗰𝗶𝘀𝗲 𝗺𝗼𝗺𝗲𝗻𝘁. Waiting, however, doesn't mean doing nothing: while you wait, you read and prepare. It is precisely this prep work that allows you to act fast when the chance appears. However, there are situations where waiting and wasting time is 𝗰𝗼𝘂𝗻𝘁𝗲𝗿𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘃𝗲, according to Buffett: - 𝗪𝗵𝗲𝗻 𝘄𝗮𝘀𝘁𝗶𝗻𝗴 𝘁𝗶𝗺𝗲 𝗼𝗻 𝘂𝗻𝗿𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝘁𝗵𝗶𝗻𝗴𝘀. Buffett states: "𝗬𝗼𝘂 𝗱𝗼𝗻'𝘁 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗯𝗲 𝘃𝗲𝗿𝘆 𝗽𝗮𝘁𝗶𝗲𝗻𝘁 𝘄𝗶𝘁𝗵 𝗽𝗲𝗼𝗽𝗹𝗲 𝘄𝗵𝗼 𝘁𝗮𝗹𝗸 𝘁𝗼 𝘆𝗼𝘂 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗶𝗻𝗴𝘀 𝘁𝗵𝗮𝘁 𝗮𝗿𝗲 𝗻𝗲𝘃𝗲𝗿 𝗴𝗼𝗶𝗻𝗴 𝘁𝗼 𝗵𝗮𝗽𝗽𝗲𝗻." In this case, patience becomes an obstacle. - 𝗪𝗵𝗲𝗻 𝘆𝗼𝘂 𝗿𝗲𝗰𝗼𝗴𝗻𝗶𝘇𝗲 𝗮 𝗯𝗮𝗱 𝗱𝗲𝗮𝗹. You must be willing to hang up the phone after 5 seconds if the proposal makes no sense. Don't waste time out of politeness or indecision when the opportunity clearly isn't there. You have to be ready to hang up after 5 seconds (if it's bad) or say "Yes" after 5 seconds (if it's great). In just a few minutes, Buffett demonstrated great wisdom. As for me, I take away at least 𝟯 𝗹𝗲𝘀𝘀𝗼𝗻𝘀 𝗼𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁: - 𝗗𝗼𝗻'𝘁 𝘄𝗮𝘀𝘁𝗲 𝘁𝗶𝗺𝗲 on companies with incomprehensible business models just because everyone is talking about them. - When there are 𝗼𝗯𝘃𝗶𝗼𝘂𝘀 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 (like the drop in Alphabet last April or Alibaba in past years), acting decisively makes the difference. - 𝗦𝘁𝘂𝗱𝘆, 𝘀𝘁𝘂𝗱𝘆, 𝗮𝗻𝗱 𝘀𝘁𝘂𝗱𝘆. Stopping just because the market is high means finding yourself unprepared when opportunities arise. Researching companies even when they are expensive helps you make the right decision when the price becomes attractive. $GOOGL (Alphabet Inc Class A) $BABA (Alibaba-ADR) $BRK.B (Berkshire Hathaway Inc) $TSLA (Tesla Motors, Inc.) $BTC