The majority of rich people I know are Buy-and-Holders

Anecdotally, majority of the rich people that I know in real life are people that Buy a ton of shares and simply hold them for a long time. For example, a rich person I know bought 3M worth of SNDK back when it was cheap and his holdings is worth 15M now. He also has 10M+ of MU holdings, 8M+ worth of SPCX among other stuff. Of course, this is a case of rich-get-richer, but even if you are not multi-millionaire rich yet, it's worth learning something from how they do it. On the contrary, I seldom know of people who swing or daytrade alot and are multi-million rich like these guys. I'm not sure why that is the case. Maybe it's because they often cut their winners too early and so are unable to compound enough? Learning from this case, I'm actually thinking whether to just hold my MU through earnings or not. My thinking is IF MU pumps up after earnings a crazy amount (like let's say 30-40%), it's very likely that MU will also pump the rest of the market along with it. I'm holding a diversified portfolio so if my MU does well, the rest of my stuff will do well too. If I sell early and cut now, I may miss the pump and not only miss out on gains but have to buy back in 30-40% higher a lot of the good stocks that I hold.