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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There are two main strategies to improve the quality of life

There are two main strategies to improve the quality of life 

Blindly pursuing wealth, status and power may not make people happier. Only by creating fun from daily life experiences can we truly improve the quality of life.

There are two main strategies to improve the quality of life: one is to make the external conditions meet our goals; The second is to change how we experience external conditions so that it fits our goals.

For example, a sense of security is a significant factor in happiness. Buying a gun, installing a set of solid locks, moving to a better security area, putting pressure on the city government to strengthen the police force, or advocating that the community pay attention to crime are all ways to enhance a sense of security. The purpose of these different responses is to make the environment more compatible with our goals. Another way to give yourself more security is to adjust the definition of security. If we do not expect an absolute sense of security and admit that danger is inevitable, we can still live happily in an unpredictable world, and the threat of insecurity to happiness will be much smaller. However, neither strategy can be used alone. Changing external conditions may be effective at first, but if one can't control one's consciousness, the fears and desires of the past will soon resurface and awaken old anxieties. Even if one buys an island in the Caribbean and is full of armed bodyguards and police dogs, he can't create a sense of inner security.

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