Uncle Scrooge's Economics

This blog is a continuation of the previous one that I wrote inspired by one of the greatest treasures in my library, The Joys of Compounding by Gautam Baid, CFA. The book sheds light on different perspectives of life and how compounding is, has, and will always be the core of any activity that we undertake. In the previous blog, I highlighted seven lessons and will share eight more in this one. We Indians usually remember respective gods before we start a trip. This book is an adventurous trip in itself, and hence, remembering the gods of compounding before we start is a must. When Charlie was being interviewed by CNBC, he was asked how he liked the world would remember his. To which he replied, "A teacher and a learning machine. Most human beings die at the age of 25 and are buried at the age of 70. You might burry me, but I will always remain alive.".  What he meant when he said that most humans die at the age of 25 and are buried at the age of 75 means that people stop l

Being a book worm, I have come across many books that I thought were stupid buys but later turned out to be one of the best investments. But the book that I am going to talk about today was nothing like what I described above. This book was an impulse buy, knowing that it was going to be one of the best books I have ever read. You would hardly come across a book that talks about investments, knowledge, trading strategies, and life lessons with the same intensity and importance. Well, if you have authors like Gautam Baid writing books, you can expect the book to be a masterclass for value investors. The book that I am going to talk about has literally one thing that the author tries to relate to various aspects of life. That one thing, my friend, is what Einstein called the 8th wonder of the world. You guessed it. The concept around which the book hovers is compounding, and the name of the book is Joys of Compounding .  Apart from sharing love for investments, money, running businesses,