Art history students at Harvard University almost always have a boring first day. Their task is to go to the local museum, choose a favourite piece of art, then sit down and look at it – for three full hours.

The purpose isn’t to encourage concentration, instead, wants students to feel the restlessness build, accept it, and push on-wards – whereupon they see things in the art that their passing glances missed.

In investing, as in the art world, patience is rewarded.

Warren Buffett likes to say, investing is a no-called-strike game. There’s no penalty for sitting on the sidelines other than opportunity cost, so it’s better to patiently wait for the 'fat pitch' with a wide margin of safety.

For those who shun a 'buy and hold' philosophy, brokerage fees can quickly bite into their returns.

To paraphrase Jesse Livermore, it's not the buying or selling that matters – the big money is made in the waiting.

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Why patience pays off
What does baseball, art history and investing have in common? Only the patient win.

Following Kevin Rudd’s axing as PM in 2010 Tony Abbott said “A prime minister elected by the people has been executed by the union and the factional warlords … Prime ministers should not be treated this way.”

Julia Gillard replaced Rudd as PM in 2010. On her knifing in 2013, Tony Abbott said: “Yet again, the powerbrokers of the Labor Party have changed the prime ministership of our country. I want to say directly to the people of Australia: you deserve better than this.”

Tony Abbott will be remembered as an extremely conservative Prime Minister in modem age, an energetic lead, an ass kicker, a boxer, a mad monk …