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Born in 1940, in a home with no electricity or water, Wilma Rudolph was the 20th of 22 children. At 5, she had polio and with no vaccine, children often died. Wilma survived, but her left leg was twisted and doctors said she would never walk. She was determined to walk, so she started wearing a heavy steel brace. After many years, she was able to walk without braces. Slowly she ran and played games as well. At 14, her coach said she had the potential to become an outstanding runner. At 16, she won bronze in the 400 meter relay at the 1956 Melbourne Olympics. 4 years later, after giving birth to a daughter, she became the first American woman to win 3 golds in the 1960 Rome Olympics in track and field. She retired in 1962 and died of brain tumour at 54 in 1994. Her famous quote: “Winning is great, but if you are really going to do something in life, the secret is learning how to lose. Nobody goes undefeated all the time. If you can pick up after a crushing defeat, and go on to win, you are going to be a champion someday.”

Winning and losing is part of the game but accepting defeat and quitting, without trying harder is optional. Most investors fail to create wealth as they succumb to market volatility and quit. While some withdraw after their portfolios dip in a down cycle, others quit when they have gained enough in an upcycle only to realise that markets climbed much higher after that. Successful investors have practiced patience to stay invested over very long periods to benefit from compounding. Such investors have conditioned their mind to not succumb to emotions of greed and fear which most ordinary investors surrender to.