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Be patient and wait years — not weeks — to sell your shares. By sacrificing what you want now for what you want later, you’ll likely end up with a nice, sizable sum waiting for you in the future

Our current world is cursed with a penchant for instant gratification. We want a person to answer our text now. We need the food to be ready now. We have to watch the entire season of a TV show now. We want to buy that watch/car/bag now. We need to get money now.

In investing, as well as in life, instant gratification usually is the enemy of success. Instant gratification makes it impossible to excel at anything. You need patience and persistence to become good at something. In fact, if you are really persistent, it’s only a matter of time before you succeed.

But without patience, you won’t be able to succeed in any field.

Having a daily practice of meditation will have a tremendous impact on your ability to be patient over time. Firstly, meditation will force you to focus on the present moment. By staying focused on the present moment, you won’t think about how much money you've invested or could lose or whatever. Secondly, meditation will reduce stress and improve your ability to direct your focus.

I meditate every day and it works for me. There are loads of guided meditations available on youtube. Start with a short meditation that's no more than 10 minutes long and preferably shorter. Keep doing it every day until you feel ready to move on to longer and longer meditations.

Meditation is really hard at first because your mind will wander and thoughts will come into your head. Don't worry. As soon as you realise thoughts are coming, then just keep trying to concentrate on the meditation. This happens to all of us. The more you do it, then the more you are able to concentrate better and have more patience.

Patient investing is similar to fishing. There are many fish in the sea and it isn't necessary to catch every fish that swims by in order to be successful. In fact, it's only necessary to catch those few that bite and fill up your net (or that meet your investing criteria).

Virtually every study ever done on the behavior and results of individual investors has shown us that investors badly underperform the stock market over time. The chief culprits for this lack of profits are trading too much and have a propensity to chase the hot stocks and stories of the day.

Year in and year out, roughly 90 percent of them are set to lose money. Only 10 percent turn a profit and far fewer beat the market returns, much less squeeze a living out of all the frenetic in-and-out trading in a short period of time. The brokers do pretty well off all the activity, but the traders themselves do not do nearly as well.

Investors and wannabe traders need to accept a simple fact. If you have a career, a profession, run a business or are otherwise occupied during the day, you are not going to win the trading game. Wannabe traders are trading against people with more information who spend eight to 12 hours a day doing nothing but studying the stock market.

The toughest thing in share investing is to do nothing. That’s right, nothing! Once you buy a stock and watch it move up, down and all around for a few weeks, there is an urge to take action. Since you bought the share, you’ve probably read numerous investment news stories on the market in general and your share in particular. And even if you are only watching your share (as we advise), you’ve taken in many days of price, volume and relative performance (RP) action. With so much input, it’s easy to have your thinking swayed, which creates temptation to take action.

Another way to say it is that most investors lack patience. That’s a shame, because almost every successful investor we’ve ever met or read about has an abundance of patience. After all, if you’re correct on a share, what’s the point of rushing things?

For me, I think nothing will be made available until 30 September 2020. Then we'll get the trading update, the findings of the independent review and the new factory in Leicester.

Patience is the key to buying and holding shares.

thecouchman - here are some ideas for books you might like to consider:-

The Intelligent Investor by Benjamin Graham was Warren Buffett’s college professor and still applies today.

Stocks for the Long Run by Jeremy Siegel, Siegel believes shares are better than any other financial assets

One up on Wall Street by Peter Lynch, for beginners

Interpreting Company Reports and Accounts by Geoffrey Holmes and Alan Sugden, speaks for itself

Investing (FT Guide) by Glen Arnold, if serious or even new to investing.

Investing for Dummies (UK) by Tony Levene, covers everything.

The Money Diet by Martin Lewis, by cutting back on spending helps you to increase money for investing

The Essays of Warren Buffett by Lawrence A Cunningham, ideas on how to invest wisely

Winning the Loser’s Game by Charles A Ellis, the greater benefits of long term investing to short term attitudes

Thank you all, you're very kind. I love reading and researching. Research is all about finding great information and sharing it. I like to make money on great growth shares and I like to see other people making money on great growth shares too. For me, that's what investing is all about.

US Stocks sank as profit-taking hit all of the indexes ahead of the 3-day long Labor Day weekend. (US Markets are closed on Monday.) The Nasdaq, which had led the market's stellar advance, led the decline as well with a loss of -4.96%.

But for perspective, the Nasdaq, over the last 5½ weeks, surged 16.34%. So a -4.96% pullback yesterday is hardly the end of the world. Granted, pullbacks are never fun. But they're quite common. And typically, quite healthy.

The S&P and Dow were down -3.51% and -2.78% respectively. And the small-cap Russell 2000 index was down -2.99%.

Some news stories attributed the decline to Dr. Fauci's comments suggesting that while it's "conceivable" we could have a vaccine ready in October, he believes it's "unlikely" and that a more realistic timetable is November/December – "by the end of the year."

This, of course, is not a new revelation. He's been saying this for a while. But it does come the day after the CDC said it was readying facilities to be operational to handle a vaccine by Nov. 1st.

The US pullback is just simple profit-taking ahead of the holiday weekend. There's been a lot of money made in the last several weeks.

Plus, there's the US Employment Situation report. And that too made profit-taking as fine a time as any to cover some bets. The last 3 US reports have been nothing short of spectacular. And we could easily see more magic like that for the fourth month in a row. The consensus is calling for 1.400 million new jobs (1.358 in the private sector and 42K in the public), with the unemployment rate declining to 9.8% from 10.2%.

US Stocks have been on fire. But pullbacks happen all the time. It's just a part of trading.

In fact, US stocks usually pull back about -5% roughly 3-4 times per year.

And they usually pull back -10% on average of about once a year. (A -10% pullback is called a correction.)

So we've all been thru these things time and time again. Just part of the US market.

And with unprecedented US economic growth expected for the remainder of the year, it looks like there's a lot more upside to go.

Remember, the US markets are closed on Monday 7 September 2020 for Labor Day.

spicey - unfortunately these days with 24 hour news, journalists don't have the time to do any proper research hence why they copy stories from one newspaper to another. With shares and stock markets you must make the time to do your research properly otherwise you get your fingers badly burnt. Fortunately for me, I love research and reading.

Rutends - I wish I was. It's called research. Research, research, research is the key to making money in shares. Read everything you can find about shares and stock markets and how it all works and you won't go far wrong.

US Stocks sank as profit-taking hit all of the indexes ahead of the 3-day long Labor Day weekend. (US Markets are closed on Monday.) The Nasdaq, which had led the market's stellar advance, led the decline as well with a loss of -4.96%.

But for perspective, the Nasdaq, over the last 5½ weeks, surged 16.34%. So a -4.96% pullback yesterday is hardly the end of the world. Granted, pullbacks are never fun. But they're quite common. And typically, quite healthy.

The S&P and Dow were down -3.51% and -2.78% respectively. And the small-cap Russell 2000 index was down -2.99%.

Some news stories attributed the decline to Dr. Fauci's comments suggesting that while it's "conceivable" we could have a vaccine ready in October, he believes it's "unlikely" and that a more realistic timetable is November/December – "by the end of the year."

This, of course, is not a new revelation. He's been saying this for a while. But it does come the day after the CDC said it was readying facilities to be operational to handle a vaccine by Nov. 1st.

The US pullback is just simple profit-taking ahead of the holiday weekend. There's been a lot of money made in the last several weeks.

Plus, there's the US Employment Situation report. And that too made profit-taking as fine a time as any to cover some bets. The last 3 US reports have been nothing short of spectacular. And we could easily see more magic like that for the fourth month in a row. The consensus is calling for 1.400 million new jobs (1.358 in the private sector and 42K in the public), with the unemployment rate declining to 9.8% from 10.2%.

US Stocks have been on fire. But pullbacks happen all the time. It's just a part of trading.

In fact, US stocks usually pull back about -5% roughly 3-4 times per year.

And they usually pull back -10% on average of about once a year. (A -10% pullback is called a correction.)

So we've all been thru these things time and time again. Just part of the US market.

And with unprecedented US economic growth expected for the remainder of the year, it looks like there's a lot more upside to go.

Remember, the US markets are closed on Monday 7 September 2020 for Labor Day.

Bachelor USA star Hannah Ann Sluss is constantly rocking cute mini dresses, sultry bikinis, crop tops and chic workout wear, but before deciding on her outfit of the day, she asks herself, ‘What would Jackie Kennedy Onassis wear?’

“My style icon is Jackie Kennedy,” the model, 24, told Stylish while promoting her boohoo collection edit filled with sexy tops, girly dresses, trendy jumpsuits, denim options, swimsuits and more.

Another trend she’s into: “My favorite look in my boohoo edit would definitely be the button down shirt dress. I call this look ‘my boyfriend’s business shirt.’ I really love it because it can easily be dressed up with heels, jewelry and a chunky belt to make the look more feminine.”

Pretty Little Thing, a Boohoo brand, has used TikTok almost daily (around 450 videos in a year and a half) since the very end of 2018, has amassed more than 1 million followers and more than 14 million likes over that time. Boohoo has more than 400,000 followers and 4 million likes on its account. Boohoo created a separate account just for its men’s clothes, which has 200,000 followers. Boohoo has posted nearly 700 videos since January of 2019, nearly all of which have more than 15,000 views.

“TikTok has an amazing young female audience, and it’s a really engaged audience,” said Jenny Lang, svp and managing partner of of integrated investment at UM Worldwide. “If you look at females ages 16-24, it’s a 60% reach. It’s not as big as some other platforms, but the engagement level is amazing.”

TikTok has more than 100 million users in the U.S., 60% of which are between the ages of 16 and 24, according to the platform’s latest public statistics.

One of the quality measurements for a great growth share like Boohoo is its 5-year Return on Capital Employed (ROCE), which is 22.6%. Long-term, double-digit ROCEs is a hallmark of companies with the power to grow very profitably.

ROCE helps in the search for shares with the potential to deliver solid investment profits over many years.

Return on capital employed (ROCE) for the past five years for Boohoo starting for the year ending 29 February 2020 was 27.89%, 28 February 2019 was 23.07%, 28 February 2018 was 21.98%, 28 February 2017 was 33.76%, 29 February 2016 was 20.38%

The best UK shares/businesses make excellent returns on the money they invest. In financial jargon, this is the return on capital employed (ROCE). Think of it as the interest rate that a company earns on its money, just like a rate you’d get in a savings account. Anything over 20% is very good.

ROCE measures profits before interest and taxes and is more precise than return-on-assets (ROA) or return-on-equity (ROE), as it takes into account all money employed in generating profits.

Warren Buffett is a big believer in ROCE. So too are top fund managers Terry Smith and Nick Train. They know a company that’s able to grow its value by reinvesting profits can make you rich, even when you pay a high price for the share.

Some experts have said that one key element behind Boohoo's success is its online-only business model.
Boohoo turns clothes around quickly
Boohoo adds new dresses, tops, accessories and shoes to its website every single day.
One technique that the company has used effectively is to produce new styles of clothing in small amounts. If they do well, the company has the supply chains in place to bring more of that product to market quickly. If the reverse happens then the company can simply scrap the design without having wasted much money on it.
This technique has also been used — with great success — by Spanish retailer Inditex which owns Zara.
To turn items around quickly, it uses what's called a "test and repeat" model, where it produces small batches of lots of new styles - sometimes even just tens or hundreds of one item.
The company has the supply chains in place to then ramp up production of the best-selling pieces. About 40% of its clothing is produced in the UK.
Boohoo said that the quickest a piece of clothing can go from design to sale is two weeks.
The only company you can really compare to Boohoo is ASOS. LIke Boohoo it has an online-only business model. Boohoo designs and sells its own clothes. ASOS sells third party clothes. Hence why Boohoo's profit margin on revenue is higher than ASOS.

Boohoo was founded by entrepreneur Mahmud Kamani and designer Carol Kane.
The pair had worked together at Pinstripe Clothing, a company that was set up by Kamani's father Abdullah. It was one of the first suppliers to Asos and it designed and sourced clothes for Primark.
Kamani and Kane decided to cut out the middle man. They set up their own online fashion store in 2006, with the aim of selling on-trend clothes directly, and cheaply, to shoppers.
Carol Kane is renowned for her marketing and sales skills.
Mahmud Kamani, on the other hand, is thought to be a business whizz, understanding how to run supply chains and manage operations.
The founders complementary skills have clearly helped Boohoo grow tremendously over the past 14 years.

Excellent at disrupting the market and grabbing market share
Social media is key to its success - superb use of social media including TikTok, influencers and celebrities
Great marketing and growing list of celebrity influencers backing the brands
Part of its success is down to targeting under-30s who prefer to take style tips from social media influencers and buy clothes on their phones.
To drive customers to its website, it's worked on collaborations with Little Mix, influencers including Love Island contestant Maura Higgins and paid for celebrity endorsements from the likes of R&B singer Ashanti.
This strategy seems to be paying off.
According to research by polling firm YouGov in May 2020, 11% of 18 to 24-year-olds had purchased something from Boohoo in the previous three months.

Founders of Boohoo Mahmud Kamani and Carol Kane brought in John Lyttle from Primark to grow the business even more. John Lyttle grew Primark’s revenue to £7bn in 8 years.
Independent review of suppliers, the only UK clothing company ever to do this
Opportunity to turn any negatives from the independent review into a positive by re-acting to the advice and recommendations of the review and therefore providing confidence to investment institutions.
Management will turn this whole episode into a positive movement for the clothing industry and create a transparent model that will provide employment in the UK.
This will provide confidence to the institutions.
The SP fall was due to reputational damage and this will be overcome with good planning, strategy, marketing and transparency going forward.