Wealth often amplifies anxiety regarding its acquisition and retention, indicating that true satisfaction is not derived from mere possession. Historical reflections suggest a consistent disillusionment with the rich, revealing that wealth does not equate to value or meaning in life. Additionally, lessons from economic downturns emphasize the necessity for professionals to create financial resilience during prosperous times to weather future uncertainties.
In some fields our knowledge is seamlessly passed down across generations. In others, it’s fleeting. To paraphrase investor Jim Grant: Knowledge in some fields is cumulative. In other fields it’s cyclical (at best).