The power of growth in Wealth Creation
This report would most likely have been titled “Demystifying growth” … and then we came across this book “100 To 1 In The Stock Market” by Thomas W Phelps who is described as having been a private investor, columnist, analyst, author and financial advisor. Written in 1972, the book makes a strong case for investors to “Buy right and hold on”. It offers examples of how in the US, over 365 stocks appreciated 100x or more over the 40 years ending 1971. We believe “100 to 1” is an excellent concept to apply our understanding of growth.
The “100 To 1” book is common sensical, conversational, and chucklesome (Sample this: “Unlike dogs, not every stock has its day. In fact, in Wall Street, a stock that does not have its day is called a dog!” And this: “Most deception is bad but self-deception is worse because it is done to such a nice guy!”)
We dedicate “100x” as a contemporary complement to this classic, and as our commemorative compliment to the late author (who passed away in November 1992 at the age of 90.)
“To make money in stocks you must have the vision to see them, the courage to buy them and the patience to hold them. Patience is the rarest of the three.”
— Thomas Phelps in 100 to 1 In The Stock Market