How Warren Buffett learnt to invest with patience

Warren Buffet’s father was a stockbroker and as a child, Warren Buffet would visit and get the stock prices.  He then at age of 11 bought three shares of Cities Service Preferred at $38 per share.

The stock, however, quickly dropped to $27.

Buffett held on until they climbed back up to $40. Then he sold them at a small profit. He later regretted the decision when Cities Service shot up to nearly $200 a share, and still cites this experience as an early lesson in patience in investing.