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What are the most common mistakes all investors make? And here it is. Mistake in level. Lack of patience. This is not a get rich quick scheme. Get used to the idea of generating profits over the long term. 12. Being emotional. Warren Buffett once said that it is wise for investors to be fearful when others are greedy and greedy when others are fearful. Our emotions can be hard to control, especially when markets are falling and are watching the value of our investments going down. You have to accept that there will be difficult periods and don't let it distract you from your goal. Mistake 13. Not understanding what you bought. Another legendary investor, Mr. Peter Lynch, once said that if you can't explain to a 10-year-old in two minutes or less why you own what you own, then it's a mistake. You need to understand the reason behind your decision to invest in something. That reminds me. I must sit down with my three-year-old and go through my portfolio.