long-term thinking

The short-term crowd is always too distracted to notice the long-term crowd slowly compounding.

An investor obsessing over daily economic data misses the big picture. A teenager chasing fleeting popularity neglects to develop genuine interests and skills. A co-worker stops paying attention to the details to chase attention. All chase false stimuli... See more

The fact is, star brands take time to grow. Take some of the small makeup companies we have acquired recently, like Bliss and Urban Decay. When we bought them, they were little start-ups run by their founders—very simple businesses, but with a lot of originality in the products. So now we know we must nurture them until they have some history. But

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We tend to overestimate what we can do in a day, and underestimate what we can achieve in a decade. Miraculous things can be accomplished if you give it ten years. A long game will compound small gains to overcome even big mistakes.