Strategy Overview

The most important principle in growing capital, in my view, is simple but rarely practiced well:
observe the market and wait patiently until a truly exceptional opportunity appears.
Like a predator holding its breath while tracking its prey, an investor must watch the market in a state of quiet focus.

To do this effectively, several elements are required:

1. The wisdom to recognize what a truly great opportunity looks like.
2. The patience to wait for it.
3. A stable personal life, values, and lifestyle that enable the first two.

Many people may accept the importance of #1 and #2 but raise an eyebrow at #3.
However, I believe #3 is the foundation that makes #1 and #2 possible.

A person who constantly compromises with the world—drinking often, indulging in nightlife, burning time and energy in endless social interactions—cannot realistically expect to produce consistent, long-term performance in the markets.
If someone like that temporarily succeeds, I consider it merely a story not yet finished.
Viewed in the long run, such a lifestyle almost always ends in destruction.
Even if a rare exception exists, it is not a life I aspire to.

Humility—the ability to acknowledge that our success is never solely our own—and gratitude toward the countless workers, professionals, and contributors who support the economy each day—these, I believe, are essential moral attitudes an investor must maintain.

As mentioned earlier, the core of my strategy is this:
observe the market every day, but do nothing until a genuine high-quality signal appears.
Warren Buffett’s long-time partner, Charlie Munger, once went seven full years without taking a single investment action—simply reading newspapers and waiting patiently until an opportunity met his standards. Regardless of the outcome of that decision, I find this story profoundly compelling.

I learned this through years of painful trial and error: swinging at mediocre 60- or 70-point opportunities and wasting precious capital.
Each time I took a careless loss, it took a long period of real labor to earn back what was lost.

That is why I do nothing—absolutely nothing—until the market forms the exact picture I’m waiting for.

Once you truly understand what a “great opportunity” looks like, waiting no longer feels boring or painful.
It becomes enjoyable.
It becomes discipline without suffering.

If you follow this blog daily, you will not miss the rare, meaningful moments when the market presents an opportunity worth acting on.