"An average of 10,000 hours of practice and talent is needed to become a world-class violinist or pianist. In study after study, of composers, basketball players, fiction writers, {STOCK INVESTORS} concert pianists, chess players, master criminals, and what have you, this number {10,000 hours of practice} comes up again and again." OUTLIER
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I have written about the incredible power of patience and compounding several times. Above is a real story of a couple who gifted over $81,000.00 from a $36.00investment.
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Learning to read stock charts was critical to improving my wealth. Today's blog gives you a brief introduction. Next week let's continue building chart competency by examining support and resistance.
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If you missed the top ten best days in the S&P 500 for the past nine decades (Total of 90 days forgotten out of ~2,340 total days), your ROI was 91%. If you had simply sat through the ups and downs and been in for ALL 2,340 days, your returns were 14,962%.
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Albert Einstein stated, “Compound interest is the 8th wonder of the world. He who understands it, (the financially literate) earns it; he who doesn't, pays it.” Compounding normally refers to a bank account, and generally means you will collect interest on your money. Moreover, compounding also applies to other investments such as real estate and stock ownership. Example- On January 2, 2020, you purchased one share of Powers, Inc., at a price of ...
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