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Welcome to Long-Term Mindset, the Wednesday newsletter that helps you invest better.

Today's Issue Read Time: <2 minutes

  • Lesson: Never interrupt compounding
  • Timeless Content: 20 Lessons from 20 Years of Investing
  • Thread: Personal Finance Rules
  • Resource: Lower your tax bill
  • And more!

Together with Public.com*:

I (Feroldi here) keep all my uninvested cash in a high-yield cash account.

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Did you know that you can currently earn an impressive 4.35%* APY with a High-Yield Cash Account at Public.com?

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*APY as of 11/12/2024 is variable and subject to change.

Friends,

Everyone knows Warren Buffett is one of the world's greatest investors -- worth roughly $150 billion today. But here's something lots of people don't know: 99.3% of that sum was added after Buffett turned 56 years old.

As his longtime partner Charlie Munger once quipped: "The first rule of compounding: never interrupt it unnecessarily."

But how can you virtually guarantee you'll continue compounding as you age?

Paradoxically, we don't think it's necessarily by focusing on money. Rather, it's by focusing on what truly interests you.

Entrepreneur Barrett O'Neill recently covered the phenomenon in his newsletter:

"Until recently, I thought it didn't matter what you did as long as you made money and that chasing your interests was a fool's errand.
​
I was mostly
wrong."

What Barrett missed: if you're interested in something, you'll keep coming back to it. Business might be brisk; it might be slow. It doesn't matter -- you'll consistently find your way back to it.

And when you consistently find your way back to an activity, something magical happens: compounding -- of skills, networks, and (yes) wealth.

Again, from Barrett:

"I know [real estate] is something I am willing to compound for 50+ years, so doing it the right way -- building lasting relationships and trust with counterparties, investors, etc -- is easy.
​
If interests and the opportunity to create wealth converge, you will eviscerate short-term incentives."

And if you can eliminate short-term incentives by doing an activity you like doing right now -- you've found the long-term cheat code that virtually guarantees a positive outcome.

Wishing you investing success,

Brian Feroldi, Brian Stoffel, & Brian Withers

Long Term Mindset

P.S. Did you read any good investing content recently? Hit reply and share it with us. We'd love to read it.

One simple graphic

One piece of timeless content

Ben Carlson shares a wonderful post on 20 Lessons From 20 Years of Managing Money.

One resource

It's December, so it's time to do end-of-year tax planning. Here's a great resource on a guide to tax loss harvesting.

One quote

Brian Stoffel

Brian Withers

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*APY as of 11/12/2024 is variable and subject to change. Paid endorsement for Open to the Public Investing, Inc., member FINRA & SIPC. This does not constitute investment advice. Investing involves the risk of loss, including loss of principal. All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Public Investing, Inc., member FINRA & SIPC. Rate variable and subject to change. A High-Yield Cash Account is a brokerage account with Public Investing, member FINRA/SIPC. Funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance. Neither Public Investing nor any of its affiliates is a bank. Learn more: https://public.com/disclosures/high-yield-account

Long-Term Mindset

I teach investors how to analyze businesses. Each Wednesday, I share six pieces of timeless content that can be read in less than 2 minutes. Read by 100,000+ investors from a16z, Amazon, Google, Microsoft, and more.

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