LONG-TERM

Someone is sitting in the shade today because someone planted a tree a long time ago.

Our favorite holding period is forever.

In the short run, the market is a voting machine. In the long run, it is a weighing machine.

The single greatest edge an investor can have is a long-term orientation in a market dominated by short-term thinking.

Our five-year time horizon is what separates us from Wall Street. They can't see past the next quarter. We're looking at where industries will be in 2030.

Time in the market beats timing the market. I know everyone says it. Everyone says it because it keeps being true.

Generational wealth does not get built in one generation by accident. It gets built intentionally, one investment at a time.

The question is not whether Bitcoin will succeed. The question is how long it will take.

We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten.

Most people overestimate what they can do in a week and underestimate what they can do in a decade.

I think about businesses the way a farmer thinks about land — something you acquire, improve, and hold for generations.

The big money is not in the buying and selling but in the waiting.

Most people overestimate what they can do in one year and underestimate what they can do in ten.

Most investing courses in Asia teach you how to trade. I want to teach you how to build wealth.

The best investment strategy is the one you can actually stick with for 20 years.

We chose to be the regulated exchange when it was the hard path. Now it's the only path.

NFTs aren't going away. The speculation might cool down — it already has — but the technology of provable digital ownership is permanent. We're building for the long term, not the hype cycle.

Selling a building is like selling a child. You just do not do it. You hold it, you improve it, you pass it on.

My grandfather started building in Brooklyn in 1901. My father built LeFrak City. I built Newport. My son will build what comes next. That is how you think about real estate — in generations, not quarters.

Manhattan always comes back. Always. People who bet against Manhattan real estate over the long run have been wrong for 400 years.

When you buy a stock, you should be willing to hold it even if the stock market shuts down for five years. If you can't do that, you have no business being in equities.

The stock market is not a place to get rich quickly. It is a place to get rich slowly, and then one day you wake up and realize you're rich.

Oil will run out. The question is not if, but when. Saudi Arabia needs investments that will outlast petroleum — and that's what Kingdom Holding is building.

I've been building oracle networks since 2014. Most crypto people discovered the oracle problem in 2020. We had a seven-year head start because we focused on the hard stuff while everyone else chased tokens.

I tell my team: we're not building a company. We're building the infrastructure for a new economic system. The timescale isn't quarters — it's decades. Act accordingly.

Spotify lost money for 18 years. Eighteen. Every year people said the model was broken. We knew it wasn't — it just needed scale. Patience is the most underrated startup strategy.

I started this at 26 with a PhD and a dream. Fourteen years later, we're delivering tens of thousands of vehicles. It took longer than I expected and was harder than I imagined. But we're building something that will exist long after the stock price noise fades.

Most people overestimate what they can do in one year and underestimate what they can do in ten.

The energy transition is not a 10-year trend. It is a 50-year transformation. We invest on that timescale.

We own hydroelectric dams, toll roads, data centers, and ports on every continent. These assets will still be generating cash flow in 100 years.

We are building the Vanguard of real estate. Low fees. Diversified. Accessible to everyone. It will take decades. We are patient.

Taking Dell private was the best decision I ever made. Going private gave me freedom to think in decades not quarters.

Be patient and focus on the long term. The market will test your conviction. That's its job.

Equity orientation, diversification, and a long time horizon are the three pillars of sound investing.

Don't let fear make your investment decisions. The market's long-term trend is up.

Being a public company that hasn't turned a profit is humbling. But we're building something that takes time.

NFT speculation will die. Cultural IP won't. Bored Apes are a brand, not a trade.

Gen Z is our bet. Acquire young users now. They'll be valuable customers for decades.

I don't invest in trends. I invest in assets that will exist in 50 years.

2022 humbled me. We lost 30%. But the positions that hurt us the most are the ones that will make the most money over time.

I named the fund Atreides because the Atreides family in Dune played the long game. That's what we do.

The best businesses compound. The worst thing you can do is sell them to buy something mediocre.

Build institutions, not portfolios. Institutions outlive any individual trade.

Conservation isn't charity. It's infrastructure for the future of Africa.

I held my Spotify shares for nearly 20 years. Patience isn't just a virtue in investing. It's the entire game.

Portfolio turnover of under 10% means I spend 90% of my time thinking about whether I own the right businesses, not which ones to trade next.

Warren has always said — and I agree — that the most important thing in insurance is not growth. It is discipline. One bad year of poor underwriting can erase a decade of profits.

Plant trees. You will never live to see most of them reach their full height. That is the point. Build something that outlasts you.

In cricket, I had a plan for every ball. In life, you need a plan for every decade. Most people plan for today and wonder why they are poor at sixty.

The SPAC was not the destination. The destination is being the infrastructure of daily life for 680 million people. We are early in that journey.

The best commodity trades take years to play out. If you need to see results this quarter, you’re in the wrong business.

We think in decades, not quarters. A copper mine takes ten years to develop and produces for fifty. That is our time horizon.

The biggest advantage of family wealth is the ability to think in generations, not quarters.

Relationships are the most valuable asset in business. Everything else depreciates.

Banking is not just about money. It is about trust, and trust takes decades to build but only moments to lose.

We do not compete on price. We compete on trust. And trust is built one customer interaction at a time, over decades.

We invest for the long term. We are not traders. We are strategic investors who build relationships.

Build something your children will be proud to inherit. Not just the money — the name.

We build for the next generation. No building we construct is meant to last just twenty years. We build to last a century.

Nigeria is my home. I was born here. I believe in this country more than many Nigerians believe in it.

Short-term underperformance is the price we pay for the prospect of long-term outperformance. We accept it willingly.

I came back to Uganda because I believed in the country. That belief has never left me.

Patience is the most underrated quality in business. We have been building for 60 years. That is our competitive advantage.

Patience is not passive. It is active discipline applied over time.

The stock market is a mechanism for transferring wealth from the impatient to the patient.

I have seen many booms and busts. The lesson is always the same: prices always come back to value.

The market is driven by fear and greed in the short term. Dividend yield cuts through both emotions with arithmetic.

Investors who confuse short-term market movements with long-term fundamental risk make very expensive mistakes.

The stock market is not the economy. But over long periods, the two tend to rhyme.

Secular trends last much longer than anyone expects, in both directions.

Asia's growth story is not just beginning — it's accelerating. The question is whether you're positioned to capture it.

We are not just building properties. We are building communities — places where people live, work, and create their futures.

The best property is the property you never have to sell. Hold what's great. Build more of it.

Exclusivity is not just a contract. It is a relationship — one that takes decades to build and must be protected every day.

Badya is not a project. It is a 15-year bet on where Egypt is going. You either believe in this country or you do not.

We do not build developments. We build communities. The difference is everything — in the product, in the pricing, and in the customer relationship.

Government policies change. Infrastructure does not. If you build it right, the policy environment will catch up with you.

Mumbai is not finished. It is barely started. The city will absorb quality real estate for the next 30 years.

In real estate, reputation is balance sheet. You can lose money on a project and recover. Lose your reputation and you are finished.

The best companies are built with a long-term view. Short-term thinking is the enemy of real value creation.

Sustainability is not charity. It is the only viable business model for the long term.

We built Kraken to survive the long game. Not to win the quarter.

Patience in mining is not just a virtue. It is a survival skill. Every world-class mine takes twenty years from discovery to full production.

We could raise our prices and our members wouldn't notice right away. But it would be the beginning of the end.

Clean energy is not an ideological position. It is the most sensible long-term investment I know.

The long-term investor and the market often disagree. The market is right quarter by quarter. History is right century by century. We operate on the history timeline.

Family businesses that last generations do so because they think in generations. The public market thinks in quarters. We try to run this company on the longer clock.

I never wanted to be the biggest. I wanted to be the best. The size came because we kept doing the work right.

Wealth is not built by trading. Wealth is built by owning. The Rockefellers didn't trade Standard Oil — they owned it.

Our job at Claridge is not to swing for home runs every year. Our job is to still be at the table in 50 years.

I work with long-term thinking as a philosophy in my ownership.

I will remain a long-term principal owner in Getinge, Lifco and Elanders because I think they are three interesting companies and I want to be part of developing them.

My objective is not to trade in stocks back and forth, but to maintain control in these companies and be able to act long-term.

Hotels are long-term. You do not build them to sell them next year.

You build a business like this over decades, not over quarters.

There is no short game for a venture capitalist.

Multiples would be built with a long-term perspective, which meant no short cuts, no compromise of the long-term prospects for quick wins.

I'd rather build a company that takes ten years and changes an industry than flip something in eighteen months.

Build the factory before you chase the order.

Our view is that we're in the business to create long-term value. Long-term is not 6 months. Long-term also isn't squeezing all the value out of an asset in its first 3 years.

Hedge-fund investing is like a marathon. I intend to do this for at least the next 20 years.

Investing is a story of vision, courage and patience. You need the vision to see what is going to happen, the courage to bet on it and the patience to hold on to it.

Compounding is not in years, compounding is in decades.

Buy Right, Sit Tight is the way to invest in the market. Not investing is the biggest risk.

Chase the story behind the stock, not the money on the table. Money will make you rich, but the story will make you wealthy.

The long-term trend of markets is always up. Ultimately stocks move up and make money for those who stayed put.

Once you get hold of a good stock, you cannot cash out with a Rs 10 profit or a Rs 20 profit. Learn to ride your winners.

Business is an infinite game. The point is not to win once and stop, but to keep playing.

We stayed private because I wanted to build for the long term, not for the next quarter.

Time in the market beats timing the market. Patience is the investor's real edge.

Life is a long-term game. You gotta make sure your physical quality, your physical health, your mental health.

South-east Asia and, in particular, Indonesia continue to present compelling medium to long-term investment opportunities.

Another thing that drew me to this opportunity is Paradigm's long-term perspective, and their commitment to pushing the entire industry forward by investing in basic research.

The great thing about markets is that, in the long run, the market kind of dictates the truth.

We decided to build a venture firm around tokens instead of a hedge fund, because we wanted to be long-term owners of these networks.