It is a very simple idea to use the power of compound interest

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It is a very simple idea to use the power of compound interest  Smart people are easily attracted by complex things, and underestimate the great influence and importance of simple ideas. But Monish Pabrai is a full pragmatist, and he will not fall into this trap. "It is a very simple idea to use the power of compound interest, a very simple idea to imitate, and a very simple idea to be honest." He said. However, when you apply some powerful ideas with great enthusiasm, the cumulative effect is "incomparable".
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Warren Buffett believes that to be a successful investor, there must be 10 conditions

 We can be successful investors

Through independent and positive thinking, hard work, and continuous improvement of our own quality, we are not unable to meet the conditions of ten successful investors.



Warren Buffett believes that to be a successful investor, there must be 10 conditions:

1. You must be able to control your greed, not eager for quick success and instant benefit, and not overly concerned about money;

2. Be patient and be able to wait for the best time;

3. Must be able to think independently without consulting others;

4. Must have a sense of security and self-confidence backed by knowledge;

5. Accept the fact that you can't know all the events and won't pretend to understand them without knowing them;

6. It is flexible and will not buy shares at a value-added price.

If the above six conditions can be achieved through long-term training of investors, the following four conditions are said to be available only to Buffett.

7. Have 10-15 years of theoretical and practical foundation, including years of experience taught by the greatest financial master;

8. Have investment talent;

9. Have excellent moral character of absolute honesty;

10. It can avoid external interference.

Realistically speaking, it is not easy to meet the first six conditions, but it is frustrating to see the last four conditions.

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