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Patience

 

Patience is a powerful ally. Knowing that an outcome is approaching and having the patience to wait for it can lead to a good payday.

Yes, there are other pressures on your finances and resources. Yes, there are other opportunities out there that are whizzing by without you being on board. Yes, it can be dull just sitting and waiting (investing is supposed to be exciting, isn’t it? Something to brag about at the next barbeque).

Right now, I have some shares in Warrego Energy (ASX: WGO). I have already made a great return on my investment and I could sell them at a handsome profit. But they are in the middle of a possible takeover tussle. Yes, there are other opportunities flying by as people try to get their finances in order for the end of the year (ie selling cheap shares just to free up some cash), but if I (and the other shareholders) wait until late January 2023, the shenanigans will be over and the maximum return will be realised.

Is there a risk?

Of course, there is. There’s always a risk. And it is only your assessment of the risk and your own position that let’s you know what risks you are prepared to take.

Good luck with your investing.

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