- Principle: When making investments, factor in all the opportunity costs (alternatives).
I Will Teach You To Be Rich
by Ramit Sethi
Published date: 2009
Category: Self-help
Index Topics & Notes
- Definition: A quick trick you can use to work out how long it will take to double your money. Divide 72 by the rate of return.
- Example: Number of years for investment to double: 7.2 years at 10%.
- Principle: Use the power of compounding to increase your wealth.
- Insight: Suvivorship bias plays a large part in investment funds overstating returns because those that fail are not included over time.