Compounding severity as a function of time, not rate
base doubles roughly every 7 yr —
time, not rate, sets the multiple
1x
2x
4x
8x
16x
32x
64x
128x
256x
512x
1024x
multiple of stake
0
10
20
30
40
50
60
70
holding horizon (years)
30 yr — ~20x
same ~10% rate
68 yr — ~825x
still same ~10%
the extra decades close the gap
30 years — ~20x
68 years — ~825x
years
compounded multiple
~825x
holding horizon
68
years
doublings (~7 yr each)
9.7