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Found in the book "Speculation as a Fine Art and Thoughts on Life" by Dickson G. Watts, this quote transforms patience from a passive enterprise to an active one ... and thus endows patience with a greater respectability. To an investor, patience can often be extremely valuable. In bull markets, you want to hold your winners, so your profits compound. In bear markets, you want to keep some cash patiently on the sidelines, waiting for conditions that are supportive. And sometimes, you just want to sit and watch a stock for a while, to see if it behaves the way your analysis tells you it will.