SPOTLIGHT
THE QUIET MATHEMATICS
OF PATIENCE AND PROGRESS
By Izak Smit, PPS Group Chief Executive Officer
“ In the confrontation between the stream and the rock, the stream always wins, though not through strength, but by perseverance.” ~ HJ Brown( American author, 1940 – 2021)
Beyond the moment. There is so much to write on this theme! On timeless memories and the detrimental impact of our instant-gratification bias, because true power lies in what endures, accumulates and ultimately transforms beyond the moment.
There is an actuarial instinct at play here, which draws the focus to the mathematics of compounding over time. Albert Einstein once said:“ Compound interest is the eighth wonder of the world. He who understands it, earns it; he who does not, pays it.” And a similar quote from Ernest Hemingway’ s 1926 novel The Sun Also Rises is often used in this context. The character Mike Campbell was asked about his money troubles.“‘ How did you go bankrupt?’ Bill asked.‘ Two ways,’ Mike said.‘ Gradually and then suddenly!’”
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