The Dow Jones Industrial Average (“DJIA”) reached another milestone last month when it crossed over 40,000 for the first time in its 128-year history. From an inception level of 40 to 40,000, the annualized rate of return was +5.5%. Add in dividends, and that 128-year annualized return rises to +8.8%. A long ago legacy investment of $100 left to grow in the DJIA would be valued at $4.7 million today. That is the power of compounding. An often expressed and less lofty goal is doubling one’s investment, i.e., turning $100 into $200. 128 years of DJIA history provides some perspective on doubling an investment. A review of this history can help set investor expectations and paths forward to achieve investment goals.