But Chart #14 is the bigger lesson for me: time is an investor’s greatest advantage. Compounding rewards those who start early, keep adding, and resist the temptation to constantly interfere.
The market will always offer reasons to panic at the bottom and feel invincible near the top. The real edge is staying rational when everyone else is emotional.
I’d rather own a few businesses with durable moats, strong ROIC and long reinvestment runways than constantly rotate into whatever is trending.
Investing isn’t about being right every quarter. It’s about surviving long enough for your good decisions to compound.
@Capital_Insights [贱笑]
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