010508

$BTC
Munger's lifetime wealth curve
At age 30 ( 1953 ): Divorced, in debt, wealth wiped out
At age 38 ( 1962 ): Founded an investment fund with $300k
At age 49 ( 1973 ): Personal net worth approximately $25 million ( Peak )
At age 50 ( 1974 ): Stock market crash + leverage, fund lost 53.4% in two years, personal wealth halved to about $12 million, close to bankruptcy
At age 60 ( 1984 ): About $50 million ( Slowly recovering )
At age 66 ( 1990 ): Back to 1974 levels, about $2,500 ( Took 16 years )
At age 86 ( 2010 ): Over $1 billion ( Took 36 years from the bottom at age 50 to $1 billion )
At

$BTC
Good rain knows its season; it occurs in spring.
It sneaks in with the wind at night, nourishing all things silently.
The mountain path and clouds are both dark, only the fire on the riverboat is bright.
At dawn, I see the red wetness where flowers are heavy in the Jin Guan city.