Red, thanks for the great post. Great song and
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Posted On: 02/23/2020 7:47:10 AM
Red, thanks for the great post.
Great song and great band, by the way.
Since you brought up math, there is another trick that us former actuaries (and many others) use called "the rule of 70". Basically, take your average annual return (i.e., CAGR as in Red's example) and divide it into 70. That result would be an approximation as to how fast your money/revenue/profits/etc. would double. So if your revenue increases 10% per year, it would double in 7 years. Or in Red's example, 15%, it would double in about 5 years. The higher the percentage, the worse the approximation works, so this may not be a great tool for VERB (at least in the next few years) but I thought some here might find it useful.
Great song and great band, by the way.
Since you brought up math, there is another trick that us former actuaries (and many others) use called "the rule of 70". Basically, take your average annual return (i.e., CAGR as in Red's example) and divide it into 70. That result would be an approximation as to how fast your money/revenue/profits/etc. would double. So if your revenue increases 10% per year, it would double in 7 years. Or in Red's example, 15%, it would double in about 5 years. The higher the percentage, the worse the approximation works, so this may not be a great tool for VERB (at least in the next few years) but I thought some here might find it useful.
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