While there are many attributes that are probably important for an investors success in the sock market. The three most important attributes an investor an investors needs to develop are the vision to see, courage to buy & patience to hold.
Vision is required to identify the gap between actual value and perceived value. Vision is required to separate diamonds in a pile of coal.
Courage is required to buy a company when others feel that the conditions are unfavorable for the company.
Patience is required to hold the stock in portfolio for periods when the price swings from high optimism to strong pessimism.
Vision is developed by spending quality time in analyzing stocks in the market.
Courage is developed by doing in-depth research for yourself due to which we have confidence in our decision, this confidence provides the courage needed to take the call.
Patience is a function of innate behavior as well as time spent in market going thorough multiple up and down cycles.