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Adopt These Smart Money Habits When Stock Prices Skyrocket Patience is a virtue in life and investing.

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Entrepreneur Network partner Phil Town says that the higher the stock market capitalization-to-GDP ratio is, the more confident you can be in saying that the market is overpriced, which can make it difficult to find value.

To find success in pricey times, Phil Town recommends a few tips. To start, stay patient. Make sure you are staying alert to good value and good opportunities. Use the time you don't spend investing to research promising companies and build up your savings, so you can strike when the time is right.

Click the video to hear more.

Related: How Warren Buffett Got Rich by Following What Makes Him Happy

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

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