Compounding....................

More than 2,000 books are dedicated to how Warren Buffett built his fortune.  Many of them are wonderful.  But few pay enough attention to the simplest fact: Buffett's fortune isn't due to just being a good investor, but being a good investor since he was literally a child.

     As I write this Warren Buffett's net worth is $84.5 billion.  Of that, $84.2 billion was accumulated after his 50th birthday.  $81.5 billion came after he qualified for Social Security, in his mid-60s.

     Warren Buffett is a phenomenal investor.  But you miss a key point if you attach all his success to investing acumen.   The real key to his success is that he's been a phenomenal investor for three quarters of a century.

-Morgan Housel, from his book, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness