100 years ago, no one knew which stock could rise 500k times.


Looking back after 100 years, the answer is almost brutally simple: cola, cigarettes, hamburgers, diapers.
Coca-Cola has increased about 500k times over 100 years, with an annualized return of around 15%;
McDonald's has increased 9,000 times;
Walmart 20k times;
Procter & Gamble 7,000 times...
These long-lived companies share a few astonishingly consistent common points:
First, they all originated in the United States;
Second, they have never been nationalized;
Third, they have enjoyed a long-term stable monetary and legal environment;
Fourth, what they sell are things that humans need to use every day.
Whether the economy is prosperous or in recession, whether there is war or peace, or how technology evolves, people cannot do without them.
These four conditions almost condense all the secrets of great companies.
The highest philosophy of investing has never been about chasing the trend, but about finding those physiological needs and life inertia that humans cannot escape, and then placing them in a legal environment that protects capital, respects property rights, and maintains monetary stability, allowing time and compound interest to build wealth.
True long-termism is never about betting that tomorrow will be better, but about betting that human nature will not change for decades or even hundreds of years. $BNB
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