Patience Has Saved my Life, But Cost me Financially

“Genius is nothing but a great aptitude for patience.” — George-Louis de Buffon.

“One moment of patience may ward off great disaster. One moment of impatience may ruin a whole life.” — Chinese Proverb.

The Value of Patience

It was late in the evening, and I was driving home on the highway. The car in the lane next to me was, in a rush, speeding past me. I had seen the headlights coming up behind me. I changed lanes to allow the speeding vehicle past. The highway had a bend in it and the bend had a blind spot. I still vividly remember the crunching sound of metal and the sparks flying as the speeding vehicle in the lane next to me, that had overtaken me collided with a stationary vehicle.

Somebody had abandoned their vehicle on the highway, in the fast lane. This was a dark part of the highway with no streetlights. The abandoned vehicle was invisible. I felt sick to my stomach as the car that was speeding was right next to mine at the moment of impact. I couldn’t stop as the highway was busy. I later found out that the driver had survived, and that taught me a lesson, don’t always be in such a hurry to get somewhere.

“The two most powerful warriors are patience and time.” — Leo Tolstoy

Patience can mean life or death. When I was undergoing basic training in the military, they taught us to be patient. We had to ‘dig’ our selves into trenches when learning about bush warfare.

Our instructor informed us that on waking after resting, do not move. Remain patient and listen while you remain camouflaged. Impatience can mean that you give away your location to the enemy. Only once you have listened and waited for half an hour do you move slowly and patiently. Usually we would move at night, and rest during the day.

“Patience, persistence, and perspiration make an unbeatable combination for success.” — Napoleon Hill

“I take things as they come and find that patience and persistence tend to win out in the end.” — Paul Kane

In corporate life, I have found patience to be of great help. While others have been quick to react to problems in business, without fully understanding the facts or underlying issues.

“Impatience breeds anxiety, fear, discouragement and failure. Patience creates confidence, decisiveness, and a rational outlook, which eventually leads to success.” — Brian Adams

I have found that first gathering information and thinking through various scenarios has averted many costly mistakes. Being patient does not always mean you do nothing but wait. What it means is that you collect as much information within your decision-making time frame before you decide.

“Never make your most important decisions when you are in your worst moods. Wait. Be patient. The storm will pass. The spring will come.” — Robert H. Schuller

I cannot tell you how many times I have witnessed an argument in a boardroom about business issues, where a more level-headed and patient person brings sanity to the issue being discussed.

The patient, thoughtful person, showing professionalism and emotional intelligence, and true leadership.

The Cost of Patience

Many times with new technologies from an investment point of view, the ones who get in first make the money, think Bitcoin. Patience is the reason that I will not be making any money on crypto currencies, and the reason I don’t fully understand them. I understand shares and property, as an investor, you are buying into a company or tangible property asset.

The shares you buy are in a company that makes goods or delivers a service. Crypto to me is buying into a ‘digital promise.’ I worry that the value of Crypto can change at any time, and volatility is high. Also, nobody is supposedly ‘in charge’ of the block chain technology. I just find this very hard to believe. I hope I am completely wrong, and perhaps I am a Luddite. I cannot see how virtual currencies have value other than by agreement, which is the same for all currencies, but even then crypto currencies' value is expressed in dollar terms?

All currencies are no longer backed by commodities of value such as gold or silver, etc. So I understand people investing in crypto, from that perspective.

I know more and more traders and retail outlets etc are accepting crypto, but I still cannot make sense of it.

“Many a man has left the dock just before his ship came in. Time has great power to solve problems. Counsel patience.” — Wilfred Peterson

With new technologies, personally I am patient, because the problems that exist in the former models always get ironed out in subsequent models, so patience can be rewarding in this context too.

Patience to me still has an immense value that goes beyond money and investing.

“Two things define you: Your patience when you have nothing and your attitude when you have everything.” — George Bernard Shaw.