Figuring out what you should do as an investor isn't that difficult. You can read all Warren Buffett has written or said over the years, for example, and basically emulate that. The hard part is to have the discipline and the patience to execute. The bottom line is that to be a good investor you [...]

Much of our research and analysis involves identifying companies we're willing to buy and the prices at which we'll buy them. If the market isn't offering up those companies at those prices, we sit and wait. Clients sometimes get anxious about that, but we try to remind them we get paid for results, not activity.