The most adaptable to change survive
It’s not the strongest of the species that survives, nor the most intelligent. It’s the one that is most adaptable to change.
A key to being a successful investor is being willing and able to change along with the markets
- Need to change strategies depending on how the market is acting (ex. bull or bear market)
- Strategies that worked in the past may no longer work (especially if lots of people start to follow them)