Millionaire Investors Use Simple, Patient Approach to Let Compounding Work Its Magic
• Stock market millionaires make simple, ordinary investing decisions like regularly buying index funds rather than trying to beat the market. Compounding works.
• Successful investors like Peter Lynch abstain from market timing and instead think long-term, holding quality stocks through ups and downs.
• Focus on business valuation - no company is worth buying at any price. Millionaires view market declines as chances to buy great companies cheaper.
• Shelby Davis turned $50,000 into $900 million in 47 years by buying reasonable stocks, holding long-term, and buying more during bear markets.
• Patience and discipline pays - get rich slow schemes rarely work. Consistent, boring decisions compound over decades.