复利思维

R — 原文 (Reading)

"It is always startling to see how relatively small differences in rates add up to very significant sums over a period of years." (1962) "The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders." (2022)

I — 方法论骨架

复利的三个关键洞察：

1. 小差异×长时间=巨大差距：年化15%和20%在30年后差3.4倍
2. 高增长必自毁：基数膨胀后维持同等增速需要越来越大的绝对增量——"派对结束"
3. 少数赢家的绽放：不需要所有投资都成功——Coke $13亿→$250亿足以抵消所有错误

反面：增长可能摧毁价值（如果需要持续资本投入超过产出）

A1 — 书中的应用