An Excerpt from the Article:
Patience is a virtue, but it can be difficult for investors to master. Focusing on short-term results may impede progress toward long-term investing objectives, limiting the potential of your portfolio.
Over time, what you invest in may prove less important than your ability to ride out movements in the market.
A Global Investor Study conducted by Schroders Investment Management suggests that impatience is a trait many investors share. The study found that overall, global investors lean toward short-term investing, expecting to hold investments for a little over three years on average. Less than a fifth of investors said they held investments for at least five years.
Take stock of your biases. Biases, or the tendency to lean a certain way, can unconsciously influence your decision-making. Recency bias, for example, can lead you to believe that an investment will perform a certain way based on its most recent history. Loss aversion bias trains your mind to seek to avoid losses, rather than pursue equivalent gains.