This myth is not used to brag about "fixed investment", but to brag about "compound interest". The story of "10 years 10 times" often appears in countless wealth incentive paragraphs: only 25.89254% annual profit is needed, and the capital can be increased by/kloc-0 times every three years, and it can be increased to/kloc-0 times every 1 0 years. If there is a principal of 65.438 million yuan, it will become 654.38 billion yuan after 30 years. The miracle here is the "compound interest" called the eighth wonder of the world by Ai En Stein. However, there is no evidence that any fund can achieve this stable profit level in a long period of time.

It is said that Buffett's 50-year compound rate of return is close to 20%. Not to mention his investment, leverage and many other details, even if it is genuine, it is difficult to find a similar investment myth except Buffett, which proves that the biggest difficulty in the compound interest story is to achieve a sustained profit of more than 20%. Because, in the final analysis, if you want an enterprise to maintain such rapid growth for decades, and you are satisfied, and you have actually invested in this enterprise, and you have been adding positions without quitting, the probability is almost zero. We should know that there are not a few enterprises whose profit growth rate is higher than 40% for two consecutive years, and it is generally not difficult to find enterprises whose endogenous growth rate is higher than 20% for 10 years.

Well, although the enterprise is not easy to find, it should be a fund manager with a good eye, but it can meet and persist. But what are the fund companies in China like? Give a famous case. If you are lucky enough to be an investor in his family, you will enjoy the wonder of never knowing what it feels like to have a net asset greater than 1. This QDII will encounter waterloo when it goes out to sea. Forget it. Everyone recited it. But then everyone seems to have lost the will to fight. As an actively managed fund, its performance almost completely replicates the index ETF, and its losses are quite stable. In addition, it made mistakes in almost all outstanding China stocks listed overseas, focusing on mediocre blue-chip investment and investing where the country needs it.

Ten years later, the fund still lost 14%, and the management fee1800 million was collected correctly. If you plan to make a fortune with this fund, you can only make a fortune before the middle road collapses.