David Rosenthal: belief

Transcript context

…Blew it. The incident makes an impression on him. He says he learned three lessons from this. I think he actually only learned one, but the first that he says he learns is don’t fixate on the price you paid for something; it’s irrelevant. The second is don’t rush to grab a small profit. Stay focused on the big, long-term wins. The irony is he would violate rules one and two many, many, many times until he was about 40 years old (as we shall see). But the third lesson he does learn, which is that you can’t control other people’s emotions around money. If you’re going to take money from anybody, you need to make sure, (1) that you’re not going to lose it. And he’s talking about his sister here.…

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