The hardest part of being a successful long-term investor during a bull market is patience.
Left and right, we're seeing people make insane returns.
Especially over short periods of time.
It puts a fire under our ass, thinking we need to be doing more and taking larger risks.
To a degree, that's true...
But I it also pulls us away from being long-term focused.
It's a distraction and causes FOMO, even if we're getting richer and outperforming the market.
Doubts creep in... am I outperforming enough?
Are those people smarter than me for having better returns?
It's an ego struggle.
I felt it a lot in past cycles.
I can genuinely say that this is the first cycle where I have managed that emotional/egotistical battle and it's extremely refreshing.
It feels like a cheat code.
I'm staying in my lane, happy for those who are doing better than me but not letting it influence my actions.
I've been saying it since January, for Bitcoin specifically...
"If you're allocated and you want to buy more Bitcoin (or any crypto for that matter, though I just focus on BTC for long-term investing), then you should almost exclusively focus on buying more during big selloffs.
Fear? Buy.
'It's so over'? Buy.
You'll be happy that you did."
The last time we really had that vibe was in March & April, which is the last time that I actually bought any Bitcoin, under $80k.
For equities, I've actually been reducing exposure in 2025, while still leaving high-octane positions on the table to benefit from the market's upside.
Yes, late February, March, and early April sucked.
But I actually managed my holding well in that environment and managed my emotional state even better.
I created plans and executed them, without emotion.
Were the plans perfect, in hindsight?
No, I could have navigated that market better.
But what is "better", especially when my TradFi portfolio and personal net worth has been making new all-time highs since May?
One phrase that I often say is "don't let perfect be the enemy of good", which is something that I learned from my mother at a young age.
If we only accept perfection, we'll always fail.
If we aim for perfection, but are satisfied with something less than perfect, then we'll still set ourselves up for success and strive to improve.
Perfection is something great to strive for, but it isn't a valid metric for us to measure ourselves against.
So...
In this environment (and all environments), irrespective of your timeframes, I think it's vital to be patient as an investor & trader.
Have plans and stick to them!
But also have the ability to be flexible and allow your plans to adjust if/when the data verifies that an adjustment is necessary.
But even in that period of flexibility and adaptability, you must avoid making decisions based on emotional reactions, whether based in fear or greed.
Personally, I think greed as an investor is a much more powerful emotion than fear... because the reality is that most of us are trying to GET rich, not necessarily preserve our wealth.
Even if we are rich, and I won't confirm or deny if I am because it's subjective, I think all of us (due to human nature) are trying to amass even more wealth.
This is why greed is so powerful.
And this is why it's hard to stay patient during bull markets, particularly when it seems so easy to make so much money in such a short period of time.
Stay patient, my friends.
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