"As investor Michael Batnick says, "some lessons have to be experienced before they can be understood." We are all victims, in different ways, to tha… - Morgan Housel

some lessons have to be experienced before they can be understood

some lessons have to be experienced before they can be understood.

The highest form of wealth is the ability to wake up every morning and say, “I can do whatever I want today.

What kind of person makes their way to the top of a successful company, or a big country? Someone who is determined, optimistic, doesn’t take no for an answer, and is relentlessly confident in their own abilities. What kind of person is likely to go overboard, bite off more than they can chew, and discount risks that are blindingly obvious to others? Someone who is determined, optimistic, doesn’t take no for an answer, and is relentlessly confident in their own abilities.

Progress happens too slowly to notice, but setbacks happen too quickly to ignore. There are lots of overnight tragedies. There are rarely overnight miracles.