I started to build positions in the Brazilian market back in January.
While it is still a country in transition, I believe it has legs to run. Sure, they have their problems, but you don't get deals by buying goods (or stocks) at full price. The key is you need to have patience.
With so much technology and Amazon, people have become accustomed to getting what they want RIGHT NOW. Fortunately for me and other value investors, this environment creates a perfect environment to take advantage of the "Big Boys" and the impatient. The key ingredient is patience!
Most big money managers can not afford to wait until something plays out. They have to worry about their short term performance and the next quarter. That is a HUGH advantage to those behaviorally grounded and patient investors. The big boys will over buy and over sell. They are like Mr. Market that Warren Buffett talks about. The value of securities in the market can change a great deal in a day or week, but does the intrinsic value change that fast? Absolutely not!
People who day trade can't afford to have patience either. They also help keep the market volatile creating good deals to buy and sell.
