Sharing a passage I came across: In the financial market, everyone must personally go through at least two or three close-to-bankruptcy experiences, feeling chilled all over, and then grit their teeth and carry the pressure alone (instead of leaning on their parents for comfort and shelter). Only by doing so can they develop enough alertness and respect for risk, and gradually learn to control it.
The sooner this happens, the better—think of it as paying tuition. Even if you pay more tuition when you’re young, when you look back twenty years later, you’ll find it was still cheap and worth it.
Without this kind of trial by fire, it’s like someone who hasn’t been vaccinated: the moment they encounter the ruthless business world, they’re more likely to suffer devastating losses.
The sooner this happens, the better—think of it as paying tuition. Even if you pay more tuition when you’re young, when you look back twenty years later, you’ll find it was still cheap and worth it.
Without this kind of trial by fire, it’s like someone who hasn’t been vaccinated: the moment they encounter the ruthless business world, they’re more likely to suffer devastating losses.