By Dan Ferris in the S&A Digest:

Our friend Whitney Tilson and his partner John Heins wrote in a recent Forbes article the average holding period for New York Stock Exchange stocks is just six months. Thirty years ago, it was five years.

Investors are more shortsighted than ever, virtually begging you and me to exploit a major competitive advantage – patience – by simply holding longer than six months.

Failing to hold on long enough is, unfortunately, all too human a mistake to make. I just looked at my track record since the credit crisis began in March 2008. My most common mistake was selling too soon. I'd have done much better for you had I been less active.

That's usually the way it is with stock market investing. The combination of buying value and exercising patience trumps most strategies over time. Warren Buffett has famously said inactivity strikes him as intelligent behavior and lethargy bordering on sloth is the cornerstone of his investment style.

Crux Note: The S&A Digest comes free with Dan Ferris' Extreme Value. A subscription to Extreme Value gives you exclusive access to the Dan's full list of "World Dominator" stocks - the world's best stocks for "patience" investing - as well as his top short candidates. To learn more, click here.

More from Dan Ferris:

Dan Ferris risks his job by giving this advice

Master short seller Chanos: These industries will be crushed

Where to find some of the best stocks in the world to trade options on