Skip to main content

Macro Minute: Week of September 11, 2023

Today, I am going to bring another thought from Morgan Housel. Years ago, he had a twitter post saying there should be a book titled, Shut Up and Wait, and every page would be this graph.

While this can be a bit overly simplistic, it does have some compelling reasoning to it. What are some steps we should take with the understanding that over time you will have this tailwind with momentary drops in between?  The first thing I think is that the sooner you can invest and expose yourself to this compounding effect the better off your wealth will be.

Another thing that comes to my mind is the statement from Charlie Munger. “The first rule of compounding is to never interrupt it unnecessarily.”

Here are my takeaways from Morgan’s graph:

  • Over time, investing has huge tailwinds
  • The earlier you get started all the better
  • Don’t stop the compounding unnecessarily


Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Longview Financial Advisors, Inc.), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Longview Financial Advisors, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Longview Financial Advisors, Inc. is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. A copy of the Longview Financial Advisors, Inc.’s current written disclosure statement discussing our advisory services and fees is available upon request.