Chapter 1
The magic of the compound snowball
Chapter 2
Ancient clay tablets and old money secrets
Chapter 3
The modern hustle and micro-investing
Chapter 4
The brain game and psychological traps
Ch 2 · Ancient clay tablets and old money secrets
nic Archeologists in Iraq discovered Babylonian clay tablets detailing compound interest, the Sumerian term mash, and laws capping interest rates.
Quiz
What was the ancient Sumerian word for interest, which also translated directly to 'calf' or 'offspring'?
Quiz
Which famous ancient Babylonian legal code, dating back to around 1750 BCE, established strict limits on interest rates for grain and silver loans?
Quiz
How much money did Benjamin Franklin leave to each city in his will to start his 200-year compounding experiment?
Quiz
Which two American cities received Benjamin Franklin's legacy funds to be compounded over two centuries?
Fun Fact
Oldest bank: The world's oldest continuously operating bank, Banca Monte dei Paschi di Siena, was founded in Italy in 1472, compounding wealth for over five centuries.
Quiz
During the Middle Ages in Europe, what was the general term for charging any interest on loans, which was heavily restricted by religious laws?
Glossary
cuneiform (noun)
An ancient system of writing characterized by wedge-shaped characters. Babylonian merchants used this script to record the earliest known compound interest calculations around 2000 BCE.
An ancient system of writing characterized by wedge-shaped characters. Babylonian merchants used this script to record the earliest known compound interest calculations around 2000 BCE.
nic De la Vega Compounding 1688
Forget the daily trade and all the market noise, Just hold your shares and watch them compound with quiet poise.
Quiz
What is the name of the oldest stock-issuing company in history, whose dividends were reinvested by early compounders in the 17th century?
Quiz
In which city was the world's first official stock exchange established, where Joseph de la Vega studied compounding and trading?