The Marshmallow Test highlights the significance of delaying gratification for long-term success. However, the key aspect often overlooked is that the successful kids were able to distract themselves to resist immediate temptation. By diverting their attention through activities like singing, playing with shoes, or telling stories, they effectively managed their impulses and focused on the long-term goal.
Every great idea can be taken too far.
Take the notion that investors should ignore the short run.
It's important to recognize that the long run is just a collection of short runs, and capturing long-term growth means managing the short run effectively enough to ensure you can stick around for a long time.