Temperament is crucial

In the area of investing, temperament is more important than IQ.  As per Warren Buffet, succesful investing does not correlate with IQ. Once you have some basic intelligence, what seperates a good investor from a bad one is the ability to stay calm during the ups and downs of the market. Successful long-term investors have the ability to keep calm and remain unpeturbed when the investment environment around them turns volatile. 

A good or a bad temperament can be reflected in several ways and behaviours.  The foremost is the ability to not get impacted by either sharp changes in the market or the narratives that get built around the changes. This becomes even more important in modern times due to social media and due to the speed at which news and information moves around the world. One's patience with the process despite the volatility is very important. Successful investing often requires holding onto assets for the long term, despite the short-term fluctuations. Impatient investors often make poor decisions based on emotional urges to take decisions. Read my post about staying the course here.  Investing is a marathon, not a short sprint.