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And compounding works wonders over the long run. Apparently he started his first investment at age 11. 8 decades is a long time to compound even at low rates.
by MonkeyClub 11mo ago
And compounding works wonders over the long run.
Apparently he started his first investment at age 11. 8 decades is a long time to compound even at low rates.
- adrianN 11mo agoMany people manage to reach bankruptcy much faster than eight decades.
- bawolff 11mo agoCompounding is great, but so is return to the mean. The comparision should be his rate of return. If its continously above the average over a long period, its not luck. Compounding ensures that he will probably have a lot of money either way, which is why total $$ is a bad proxy for luck vs skill.