Our favorite holding period is forever.
Someone is sitting in the shade today because someone planted a tree a long time ago.
The miracle of compounding returns is overwhelmed by the tyranny of compounding costs. Never forget that.
Compound interest is the most powerful force in personal finance. It is also the easiest to understand and the hardest to actually be patient enough to use.
The reason most people fail is not that they lack talent. It is that they quit before the compounding kicks in.
Compound interest is the most powerful force in finance, but only if you give it enough time.
Compound interest is the eighth wonder of the world, but compound effort is the ninth.
Charlie Munger taught me that the big money is not in the buying and the selling, but in the waiting.
Portfolio turnover is the enemy of compounding. Every time you sell, you reset the clock and pay taxes. I prefer not to sell.
The secret to investing is the same as the secret to getting rich slowly. Find compounding machines and get out of the way.
American Tower was the best investment I ever made because I didn't just find a good business — I found a business that could reinvest every dollar at 20% returns for decades.
Compounding is the most powerful force in business. My job is to remove anything that interrupts it.
I look for businesses that are compounding machines. The three-legged stool: extraordinary business, talented management, and the ability to reinvest at high returns.
The companies that share the benefits of their scale with customers are the ones that will dominate the next century. Costco, Amazon, GEICO — they all figured this out.
I bought Nestle in the 1980s and I still own it. When you find a business that can compound across every continent for 40 years, why would you sell?
Every mile we drive teaches our system something new. We have driven more autonomous miles than every competitor combined. That data advantage compounds.
We started with fifteen million dollars and grew through returns not fundraising. That tells you everything about our approach.
I started Dell with a thousand dollars in my dorm room. Forty years later it generates a hundred billion in revenue. Compound growth is real.
Remember the power of compounding. You don't need to make spectacular returns to build real wealth.
The best businesses compound. The worst thing you can do is sell them to buy something mediocre.
I've bought over 10,000 apartment units. I started with one. The compound effect of real estate is slow and then very fast.
A Cartier bracelet bought in 1970 is worth more today than most stocks. That's the power of luxury.
100 centuries took me 24 years. Good things compound. There are no shortcuts in cricket or in wealth creation.
Thirty years of 15% returns. The secret? Buy quality businesses and do nothing for as long as possible.
The music career gave me the brand. The brand gave me access to deals. The deals gave me ownership. Ownership is the only thing that compounds while you sleep.
I'd rather make 12% a year for 40 years than 40% a year for 12 years. The math works out much better.
Patience in venture capital is not passive. It is an active choice to let compounding do its work.
In the long run, the investor is far better served by the compounding of low-cost returns than by chasing high returns with high costs.
The most powerful force in the universe is compound interest. Use it or it will be used against you.
If you start investing at age 19 and stop at 26, you will end up with more money than someone who starts at 27 and never stops. That is the compound interest miracle.
If you hold good land in a growing city, time works for you rather than against you. That is the whole secret.