5. True Investing Is Emotional Mastery

• Panic ruins great plans
• Temperament trumps IQ
• Keep calm when others can’t
• The game is won in your mind
• Most lose to their own reactions

4. Focus on the Business, Not the Noise

• Ignore hype
• Cyclicality masks fragility
• Fundamentals tell the truth
• Debt is destroyed when storms hit
• Risk = permanent loss, not volatility

3. Give Medals to Your Mistakes

• Everyone misses
• Analyze your errors
• Share them, don’t hide them
• Humility sharpens your edge
• Learn publicly, grow internally

2. The Market Is a Tool, Not an Oracle

• You can’t time it
• Don’t treat prices as truths
• Think like a business owner
• It’s irrational in the short term
• Evaluate fundamentals, not forecasts

1. Long-Term Thinking Isn’t a Preference—It’s a Survival Strategy

• Markets drop often — and hard
• Enduring pain is part of the journey
• Volatility is the cost of compounding
• Patience + perseverance = real returns
• Sticking to principles beats chasing trends

François Rochon is undoubtedly one of the best quality investors alive.

With minimal effort, he achieved an annualized return of 15% since July 1, 1993.

Here's how he did it in 5 easy steps and how you can do it too:🧵