I have always believed that the way to make money is to buy when everyone else is selling and to sell when everyone else is buying.
When you are young spend at least 6 months to one year living as poor as you can, owning as little as you possibly can, eating beans and rice in a tiny room or tent, to experience what your “worst” lifestyle might be. That way any time you have to risk something in the future you won’t be afraid of the worst case scenario.
The power of a man, to take it universally, is his present means, to obtain some future apparent good.