The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph

by Ryan Holiday

Within twenty years of that first crisis, Rockefeller would alone control 90 percent of the oil market. His greedy competitors had perished. His nervous colleagues had sold their shares and left the business. His weak-hearted doubters had missed out. For the rest of his life, the greater the chaos, the calmer Rockefeller would become, particularly when others around him were either panicked or mad with greed. He would make much of his fortune during these market fluctuations—because he could see while others could not. This insight lives on today in Warren Buffet’s famous adage to “be fearful when others are greedy and greedy when others are fearful.” Rockefeller, like all great investors, could resist impulse in favor of cold, hard common sense.