This led me to one of the biggest findings in my investing journey: great businesses created a lot of wealth even when measured from the top of the previous bull market to close to the end of the subsequent bear market. To achieve big wealth creation, an investor had only to hold on to them in a disciplined manner during the turbulent times in the stock market and stay the course. Liquidity and sentiment drive the market index in the short term, whereas individual company earnings drive stock prices in the long term.
