That is why investors play for the long term. We learn through Buffett’s teaching to focus our efforts on the business, not the short-term timing of when sound investments are likely to pay off. As Buffett wrote, “The course of the stock market will determine, to a great degree, when we will be right, but the accuracy of our analysis of the company will largely determine whether we will be right. In other words, we tend to concentrate on what should happen, not when it should happen.”
