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".

Financial assets will become the main way to improve household assets in the future

Financial assets will become the main way to improve household assets in the future 


From the perspective of large categories of assets, it is very clear that financial assets will become the main way to improve household assets in the future. If we still can't understand this general trend, we will be as upset as those who haven't bought a house in the past ten years. But you are right. The tide of financial investment is very different from that of real estate. The golden years of real estate are basically earned as long as you get on the bus. However, the performance of a financial investment can open a long echelon in the same decade, and many of them may have mediocre returns. This is related to the difference in the nature of the two types of assets. The property has a relatively small degree of differentiation, and the transaction cycle is extremely long, which is also the largest consumer expenditure of the family. Subjectively, everyone will carefully choose and hold it for a long time, and objectively, they can enjoy the profits of long-term appreciation to a large extent.

However, there are great differences in financial assets. The knowledge in related fields is complex and boring, and the transaction is very flexible, making it difficult for people to control their own hands. Therefore, for the vast majority of people who lack professional knowledge, skills, and literacy, their tossing is generally far better than entrusted to reliable professionals.

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