| 28.04.2006 Other Voices: Investor beware: Volatility can be more detrimental to performance than taxes and inflation combined |
| By Jonathan Spring: When I was just getting my arms around investing about ten years ago, having heard much talk about the “miracle of compounding,” I sat down with a spreadsheet to see just how much of a miracle compounding really is. First, I assumed I was lucky enough to have $1 million I didn’t need in 1900 and had stashed it away in a savings account that yielded 5% annually. By 2000 my hypot |