Bubbie didn't know much about investing. (Yeah, no one's surprised.)
But she did know that over time, the stock market went up...and she wanted her endowment to be allowed to grow with it. If she was good or lucky (or both), and she could compound her principal at "just" 10% a year, she knew that it would double in 7.2 years—she had read the Rule of 72 along the way through her IPO dealings.
She had $20 million to invest, and its growth (or shrinkage rate) had a lot to do with how future g...
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