What follows is a note from my diary dated Aug 16, 2021.
Think about medical progress made in the last 100 years. We have come a long way from treating mental conditions by drilling a hole in the skull to brain imaging via MRI.
How about the last 10 years? Research on stem cells, viruses, cancers, etc. has witnessed multiple breakthroughs with assistance from advanced computing and deep learning.
The same is true for tech, finance, and more.
Progress happens painfully slow at first. But once it attains critical mass, we see an explosion.
It’s easy to see pessimistic and destructive events that happen within a short span of time. But it’s difficult to see – or imagine – the good stuff happening over a span of decades.
That’s human nature.
The key takeaway of the book The Psychology of Money:
Invest patiently and wait for the money to grow.
In the short term, growth will not be visible.
Only market crashes and other negative things will be visible.
If you are lucky, you’ll see incredible bull runs. But they will also be short-lived.
Stay put and you will be 5-10x ricker in the long term.
In hindsight, progress would feel like “magic”.