The key is recognizing 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.

The only reason they made it to the long run is because they effectively managed the short run, in this case by diverting their attention from something that was otherwise too tempting to resist.

And that, I think you’ll see, is the key to long-term thinking

Earning a long-term return on my stocks means ensuring I can actually hold them for the long term.

The only reason the long term works is because the short term is so protected.

In reality, short-term improvements are often the best way to get to a good long-run plan