The biggest market gains don't always go to the investors who buy first. Sometimes they go to the ones who have enough cash left when everyone else is rushing for the exits.
Billionaire entrepreneur Mark Cuban made that case last week on the "Diary of a CEO" podcast, urging investors to be patient as AI-related stocks surge. His advice is to resist the urge to chase every rally, keep some cash available and wait for the market to turn. That's when he believes the real opportunity appears.
"When that happens, that's when the real magic happens and where the real money is made," Cuban said. "The delayed gratification."
Cuban's approach reflects a lesson he ***** ociates with late Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) Vice Chair Charlie Munger. In a conversation about long-term thinking and the temptation of get-rich-quick schemes, he pointed to Munger's belief that meaningful rewards require patience and effort.
"Even Charlie Munger used to say it all the time, right? There's no delayed gratification anymore. Never," Cuban said. "And if you don't realize you have to do the work first, you're not going to get the gratification."

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