{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"541: Failure, Success, and the Current Economy with Russell Gray","description":"We all love winners. We love hearing about the big wins and the perfect track records. It feels good. It feels safe. It instills us with a sense of trust. But I\u2019ve been in business long enough to know that virtually all individuals who are long-term winners have had profound moments of failure from which they learned invaluable lessons. Those are the people I really want to hear from. They have the kind of knowledge we all need as we navigate through life. It\u2019s called wisdom. Surgeons have a saying: \u201cIf you\u2019ve never had a complication, you haven\u2019t done enough surgery.\u201d In my surgeon days, I had a handful of complications. Let me tell you\u2014they are no fun. You stay up at night replaying things in your mind, trying to figure out how you could have done things differently\u2014how you could have had a better outcome. Even when unavoidable, those complications teach you something you\u2019ll never get from textbooks. It\u2019s been no different for me when it comes to business and investing. But I take comfort in knowing that even the greatest investors of all time had their moments of failure and rose from the ashes stronger and wiser. Warren Buffett. Ray Dalio. Every big winner has a story of failure. And while it may be clich\u00e9 to say that we learn best from mistakes, I truly believe it. The good news is that those mistakes don\u2019t have to be our own. Learning from other people\u2019s mistakes can be just as effective. This week\u2019s episode of the Wealth Formula Podcast is with Russell Gray\u2014a guy many of you already know from his podcasting and radio career. Russ lived through 2008 up close. He took a beating, and he talks openly about what went wrong. But that period also changed the way he sees the world\u2014in a good way. It changed how he thinks about risk, leverage, and what actually matters when things stop going up. That mindset is a big reason he\u2019s been successful since then. It\u2019s a conversation worth your time. ","author_name":"Wealth Formula Podcast","author_url":"http:\/\/www.wealthformula.com\/","html":"