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Compounding Exponential Growth
via How People Think
Evolution’s superpower is not just selecting favorable traits. That part is so tedious, and if it’s all you focus on you’ll be skeptical and confused. Most species’ change in any millennia is so trivial it’s unnoticeable.
The real magic of evolution is that it’s been selecting traits for 3.8 billion
If you understand the math behind compounding you realize the most important question is not “How can I earn the highest returns?” It’s “What are the best returns I can sustain for the longest period of time?”
Morgan Housel • Same as Ever: A Guide to What Never Changes
If you want to do better as an investor, the single most powerful thing you can do is increase your time horizon.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
The path to lasting wealth is deferred gratification, savings, and compound interest. Develop the habit of saving in such a way that you enjoy your present reasonably well and also ensure a bright future tomorrow.