Compound interest has been described as the eighth wonder of the world. Suppose you compound $10,000 at 50pc for 12 years you would end up with $1,297,453. The power of compound interest has made Warren Buffett so rich. It doesn't happen to most people because they don't allow it to happen. Buffett combined patient investing, good timing (he began roughly when the post-war equity boom began) and extreme personal frugality (he still lives in the same house he always lived in) to accumulate a vast fortune.
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