Getting Wealthy vs. Staying Wealthy
Good investing is not necessarily about making good decisions. It’s about consistently not screwing up.
The ability to stick around for a long time, without wiping out or being forced to give up, is what makes the biggest difference. This should be the cornerstone of your strategy, whether it’s in investing or your career or a business you own.
There are two reasons why a survival mentality is so key with money. One is the obvious: few gains are so great that they’re worth wiping yourself out over.
The other is the counterintuitive math of compounding.
Compounding only works if you can give an asset years and years to grow.
