Rule 2 Timing is most important
There was an investment in Sydney Airport Holdings Ltd on ASX made in November 2014. It’s an airport services counter and has appreciated by 165.63% over 4 years.
There was another investment in Auckland International Airport Ltd on ASX made in February 2015. It’s an airport services counter and it has appreciated by 149.18% over 3 years.
Then there was another investment made in Qantas Airways Ltd on ASX made in January 2018. It’s an airline counter and has appreciated by 132.65% in just over 5 months. This took a much shorter time.
It is important to know when to enter and even more critical to know when to exit. You will not however know for sure exactly when it is the right timing. You may have set a target plan e.g., X percentage gain over N months or years when you enter. Then you should track it to see that it is on the correct course. If it is not, then you would have picked that wrong timing to enter. If it is on the correct track, follow it and it is critical make the exit when it has reached the target (X percentage gain) that you would had planned earlier. Don’t be greedy.