As we begin anew in the new year, we at Sovereign Generation here would like to remind ourselves that a few good ideas is just as good as handful of average ideas.

A mere $1 million compounded at roughly 26% a year for 30 years get us to roughly $1 billion. Starting with a seed capital of $20 million that is compounded at 14% a year for 30 years also just gets us to roughly $1 billion.

It is fine to be patient and hold out until a really good idea comes by.

As Charlie Munger said, “extreme patience combined with extreme decisiveness. You may call that our investment process. Yes, it’s that simple.”

Here at Sovereign Generation, we try to practice the same.