No matter how well-versed an investor is in financial literature, he will only truly understand what a crisis is when he experiences it—when, with all his resources fully allocated to financial assets, a crisis breaks out. Before that, no matter how much he knows, it amounts to very little. Afterward, he can finally say he has been baptized as an investor. And so it is on countless other occasions. Sometimes, the nature of an experience can only be grasped when the blood boils and the heart races: it is only by suffering it that one can grasp its power.