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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What can really overcome short-term anxiety is confidence in your long-term investment philosophy

What can really overcome short-term anxiety is confidence in your long-term investment philosophy



Don't make decisions out of anxiety. Inflation is a wealth killer in the long run, but it is not so terrible in the short term, such as 1-2 years. However, losing 30% in one year is easy due to investment mistakes and hasty decisions. Of course, it is really difficult to overcome anxiety and remain rational and calm. But if it is not difficult, if there is no strong emotional barrier, where will the excess return come from?

Finally, frankly speaking, what can really overcome short-term anxiety is confidence in your long-term investment philosophy. If you have a set of investment methodology and practical experience that are sure to overcome the market in the long run, you will naturally greatly reduce your short-term anxiety. But we can't get this from others. We can only grow by ourselves. This is what I said. What is the most expensive price? No learning. As I said seven years ago, it doesn't make any difference whether you learn or not every day, but it does make a difference every year. It may make a big difference if you look at it after five years. Unfortunately, everyone knows this, but most of them are in a hurry when they are about to use it.

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