Billionaire -investor Bill Ackmanwhose current capacity is on $ 8.07 billionRecently shared the story of one of the greatest failures, and how he conquered it to appear stronger.
What happened: Talk about phase At the Forbes Iconoclast summit in New York, Ackman said: “I went through a divorce, which is a big financial pressure. The fund dropped by 30 percent”. He added that other people in the industry could against them and that he sold all his shares of his fund in a company called Valeant, which eventually cost the fund nearly $ 4 billion.
Ultimately, with the help of a $ 300 million loan from JPMorgan Chase, he assured control of his fund.
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Why it matters: According to Ackman, by applying the principle of composition to his personal life, he made small changes every day and concentrated on his next step instead of staying with the past. The progress first felt slowly, but after 90 days he started to see changes.
“I’m going to make progress. I’m not going to look back at where I was. When I look there, I am discouraged. I will just concentrate on the next step, and then the next step, and the next step,” he said.
He noted that this perspective, applicable to any setbacks, including health problems, job losses or business failures, can help everyone overcome them.
Ackman previously shared the same anecdote on the Lex Fridman podcast and explained how he rebuilt himself through step-by-step progress through step-by-step progress.
On the same podcast, Ackman remembered how a New York taxi driver had thanked him for an investment of $ 50,000 in a pension fund of almost $ 3 million.
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