To see why, note that being long and selling short in the stock market has an asymmetric risk/reward profile. Losing on a long position reduces one’s risk exposure, while losing on a short position increases it, so one can be more patient being long and wrong than being short and wrong.
这是为什么呢？在股市的长线和短线买空交易中，风险回报的曲线是不对称的。长线交易中的损失可以减少风险的可能。而短线买空交易中的损失增加了风险的可能。所以，耐心在长线投资中比短线买空更为重要。