Your Daily Bit of Wall Street Wit & Wisdom

Charlie Munger

Charlie Munger, iconic investor, businessman, and philanthropist h/t Los Angeles Business Journal

“Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you’ve won.”
— Charlie Munger

Adversity is inevitable in life.  How you deal with it can shape who you are and where you go.  Munger has dealt with terrible personal tragedy in his life and come through it to be an inspiration to others.  He believes adversity can cause some people to transform themselves into victims.

Far better for you to avoid drifting down a trail of envy, resentment, revenge, and self-pity.  That leads to paranoia, which is hard to reverse.

In life, and in trading, take responsibility for your losses.  Work to remedy them as best you can.

A positive approach will light the way to where you want to go.

Best regards,

Steve

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