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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Serious investment behavior takes quite a long time to know the final result

 Serious investment behavior takes quite a long time to know the final result


In a long period of time, there will be successful speculators in the stock market, and there will inevitably be more successful investors, but there will be no successful gamblers. But why do people still enjoy it when they clearly know the result of losing nine out of ten bets? Psychologists have explained this through experiments on mice. In short, people (including rats) tend to get immediate rewards rather than delayed rewards. Gambling and investment behavior perfectly reflect the difference between the two in this attribute. Gambling can bring immediate results (whether losing or winning), while serious investment behavior takes quite a long time to know the final result.

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