Long-Term Thinking and Survival

The importance of longevity and a long-term perspective in investing is a recurring theme. "Survival gave him longevity. And longevity—investing consistently from age 10 to at least age 89—is what made compounding work wonders." Avoiding ruinous risks and surviving market downturns are paramount to long-term success. A short-term focus on getting rich leads to making mistakes that can ruin you.