How much would you accumulate if you earn 20% off your capital annually? That's $20,000 if you start with $100,000. Not so bad.
Now, think of maintaining this over 50 years. The results are just mouthwatering:
It's exponential. That's around $619,000 in 10 years, $3,830,000 in 20 years, $23,730,000 in 30 years, $147,000,000 in 40 years, and a staggering $910,000,000 in 50 years.
The growth isn't that noticeable within a small period of time, however returns after 20 years start to show significant jumps.
The idea behind Value Investing is that you should hold to great companies and almost never sell, and that graph is exactly the reason why you should do that. You won't get the returns you hope for in 10 years, but hold for a lifetime and you will get similar returns - if not higher.