If you don’t have the ability to keep your money, you’ll be scattered even if you have tens of billions of dollars. If you have the ability, even if you’re broke, you’ll be able to accumulate money and keep it.

Losing luckily earned money is just proof of lack of ability.

If you have learned through failure, you will be able to keep your money next time. If you truly learned that the only way to win is to make a small bet, you will not lose it again, and your assets will swell again, so there is no reason to feel sorry.

“Lost money is not something I regret. If it is my money, I will come back. I will bring other money with me when I return.” The Mediterranean rich man said something similar, and Chairman Kim Seung-ho wrote something like this in his book. The two also lost a lot of money and experienced making even more money afterwards.

Big losses are common in the world of trading. How can you learn to win without losing? Bowls that are dominated by the weight of lost money but crushed like unlucky people can never become very rich. You have to be able to start anew like a person who has never lost money before to succeed greatly.

book scrap

I was invited to the Wimbledon tennis final in 2007. A friend of mine was a media personality, and none other than Ralph Lauren invited him to a tennis final with another guest. I was in the VIP section and was seated next to Luke Donald, one of the best golfers in the world at the time.

He was decent, very polite. We talked about Tiger Woods, and I asked him a very key question about competing against him.

“Is Tiger Woods better at golf than you?”

His answer is so insightful that it can never be forgotten. He said this.

I don’t think Tiger Woods is any better than me, given how good we putt and how far we hit the ball. But Tiger Woods has an amazing ability to forget his mistakes and move on.

For example, we can both make bad putts in the 15th hole. By the time we hit the tee-up in the 16th hole, Tiger Woods seems to have already forgotten what happened in the 15th hole, and he is totally in the moment.

On the other hand, I kept the mistake in mind on the 15th hole, and it will affect the performance of the 16th hole.

It’s an insightful perspective that separates the best in a particular field. It’s the ‘mind’, and what that ‘mind’ processes at any given moment. Does the mind accompany you or vice versa?

Tom Hogard