"The biggest wins are almost always long. 100→1 is tougher for compounding than 1→100." – Evan Goldfine
This seems to apply to more than investing. It's why it's better to be a foolish-seeming optimist than a clever cynic.
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If the optimist is right, he gets the further advantages of applying the idea. The cynic only gets to say "I told you so."
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Optimism compounds better than cynicism.
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