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".

If you struggle with a difficult decision, you should choose a more painful path in the short term.

If you struggle with a difficult decision, you should choose a more painful path in the short term

 A simple life experience: if you struggle with a difficult decision, you should choose a more painful path in the short term.

If you face two choices, the pros and cons account for 50% each, and you should choose a more difficult and painful path in the short term.

In essence, one of the two paths will cause short-term pain, while the other will cause longer-term pain in the future. In order to avoid contradictions, the brain will instinctively choose to get rid of short-term pain.

The premise is that the two options have equal advantages and disadvantages, but if one path brings short-term pain, it will also bring long-term benefits. According to the compound interest effect, long-term income is what you want.

The brain will overestimate short-term happiness and try to avoid short-term pain.

Therefore, you must self-training, take the initiative to meet short-term pain, and suppress the tendency to avoid pain (this subconscious tendency is powerful). As you know, most of the gains in our lives come from the long-term rewards of short-term pain.

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