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I been there too

Discussion in 'Investor Psychology' started by Darlinghurst Boy, 10th Aug, 2015.

  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Darlinghurst Sydney
    i was watching ABC tv tonight where they were interviweing a succesful CEO who was working in Asia.

    The most important thing to him was to have experienced being right down in life.
    If you only had success he says you"ll never understand what its like to be right right down .

    Losing his wife to Cancer , losing his young daughter years before to cot dearh he said were the worst times where most times he went to work full of alcohol.
    Then he lost his job, went to a hospital but somehow managed to get back up.

    I once remember now deceased Radio shock jock Stan Zemanek once saying when he went bankrupt in 1987 he soon found out who his true friends were.
    He had to ask some of them for loans and even accomodation, he soon found out some were not really friends .
    He was right down in the gutter and resorted to clleaning office buildings with his wife .
    In 1991 he got his break at Sydneys radio 2ue where his determination to suceed was brought about by those "bastards" who didnt help him during his down time.
    I remember him once taking a call from a former friend who congratulated him on his success and his new house until he told the friend on open radio that you were no friend you were a bastard .
    Its not until you've been right down in life that you know.
    I was speaking to my nephew recently in his early 20's who thought Australia had the same interest rates and emloyment, not until i told him of the millin unemployed in the early 90' s he become shocked and didnt believe me.
    1 million unemployed, 18% interest rates .
    its not until you ve been there that you know .the recession we had to have and some f you werre truly on your knees during this tume.
    You have to experience bad to become good
     
    Last edited: 11th Aug, 2015
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  2. SeafordSunshine

    SeafordSunshine Well-Known Member

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    Been there done that, times like that is when you really know who your friends are! Sad but true!
     
  3. Bayview

    Bayview Well-Known Member

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    Is this going to be a "Four Yorkshiremen" thread?

    I've got my white smoking jacket, cigar and comfy couch ready to go!!

    Wee add it toof!
     
  4. Hodge

    Hodge Well-Known Member

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    Hadn't Donald Trump been bankrupt 4 or 5 times in his life? He's had his fair share.
     
  5. Leo2413

    Leo2413 Well-Known Member Premium Member

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    I don't think he was ever bankrupt. He used the bankruptcy laws on 3 or 4 of his deals. It was a strategy to minimise losses and move on. You can't be bankrupt whilst at the same time have hundreds of millions in net assets. It was just a legal process he used which many of the billionaires have used at some point in time.
     
    Last edited: 17th Aug, 2015
  6. Chilliblue

    Chilliblue Well-Known Member

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    Not him personally as he is too clever for that. Several of his companies have been bankrupted.