It’s simple. First, identify a really wonderful business that you love. You know great companies because you spend money with them: Bed, Bath & Beyond, Chico’s, Budweiser, Harley Davidson, and Whole Foods Market are a few.
You want to buy it on sale. You never pay retail. When it stops being on sale, you sell it, and then you go find another one and repeat it over and over again, until you get rich.