I came across this tweet over the weekend and thought it was worth sharing with you:
Mark Minervini is a fairly well-known stock trader and he’s talking about accepting the trials and tribulations of that pursuit.
But the idea that there’s opportunity in adversity can apply in many ways.
It’s how you deal with setbacks that defines your future, not the setback itself.
For example, did you know that billionaire Michael Bloomberg was sacked in 1981 by Salomon Brothers?
With $10 million to his name, he managed to turn it into a $53.2 billion fortune.
OK, sure, he was going to be rich either way.
But I’m sure he would’ve never reached the stratospheric levels of wealth he has today without getting the chop in 1981. He says so himself.
Perhaps a better ‘rags to riches’ tale is the life story of Walt Disney.
Unbelievably, Disney was actually fired from his first job as a Kansas City Star newspaper artist because he ‘lacked imagination and had no good ideas’!
We all know what happened next…
Even the late, great Steve Jobs of Apple was fired once. And not just by anyone, but by the very company he founded, Apple.
But 12 years on in 1997 he once again took charge of the company and proceeded to create the success story that is Apple, that we all know today.
He once told a group of Stanford graduates:
‘…getting fired from Apple was the best thing that could have ever happened to [him].’
Which brings me to dealing with today’s economy…
Emerging from the flux
There’s no doubt we’re in a bit of a pickle.
And I find it hard to believe we’ll get a V-shaped rally any time soon. The economic recovery will likely be slower than that.
But that doesn’t mean there aren’t great ideas you can invest in right now.
In fact, history tells us that times like this are ideal times to invest for the brave and…