Page 59 - Morgan Housel - The Psychology of Money_ Timeless Lessons on Wealth, Greed, and Happiness-Harriman House Limited (2020)
P. 59
But good investing isn’t necessarily about earning the highest returns,
because the highest returns tend to be one-off hits that can’t be repeated. It’s
COBACOBA
about earning pretty good returns that you can stick with and which can be
repeated for the longest period of time. That’s when compounding runs
wild.
The opposite of this—earning huge returns that can’t be held onto—leads to
some tragic stories. We’ll need the next chapter to tell them.
