$Microsoft(MSFT.US) When it comes to investing, the hardest part is often not "what to buy," but "holding on."

When many people first start investing, they think making money relies on judgment, news, or trading skills. But over time, they realize that what truly creates a gap is not how accurately you buy, but whether you can stick to your initial judgment amidst volatility.

The market is never smooth sailing all the way. There will be pullbacks during rallies, panic at lows, and doubt during sideways movements. If you have to make new decisions with every fluctuation, investing becomes a process of constantly overturning yourself, making it hard to reach a result in the end.

The premise of "holding on" is having a sufficient understanding of the asset itself. You need to know what you're buying, whether its long-term logic holds, and whether its value will grow over time. If you enter just because of short-term hype, holding becomes extremely painful once the hype fades.

Secondly, it's position sizing. Even a good asset, if invested too heavily, can amplify emotional fluctuations. Those who can truly hold long-term are often not the most aggressive, but those who can best control their emotions.

The essence of investing is actually more like planting a tree. You choose a sapling with growth potential, and what you need to do is not dig it up every day to see if it's grown taller, but give it time, give it an environment, and let it grow naturally.

The market ultimately rewards not the busiest people, but the most patient ones.

Only when you can hold on do you truly begin to understand investing.