#73 - How Long Can It Last?

Daniel Negreanu recently won the Super High Roller Bowl for $3.3M. If you don’t know who Daniel is, he’s a veteran poker player who’s been at it for 3 decades!

What’s interesting to me is that the last two years were truly awful for Daniel, in terms of poker wins. I followed him here during the WSOP where nothing was going his way, but his passion for the game never flinched. It was inspiring.

And now after two years of misery, he’s been vindicated. His perseverance has been rewarded.

Here’s another example of two rough years: Charlie Munger’s Investment Partnership returns in 1973 and 1974.

Charlie Munger's investment partnership returns. What is more important is the point made in the linked article. Late investors into the partnership did not do so well. Anyone who invested in 1973 was still down 19% at the end of 1975 h/t anon. https://t.co/Tev7PPKgwJ pic.twitter.com/2wQQycIilF

— Andrew 🇺🇦 (@fundhunter_co) October 8, 2022

All that to say: rough times can last a couple of years.

But the ones who keep persevering and learning will eventually prevail again.