Brilliant perspective on investing

If you invest in a risky asset class like stocks, your portfolio will nearly always be worth less than it was at some point in the past.

(emphasis his)

Also:

He doesn’t seem remotely interested in the amount he has accumulated over the course of his 20 years at the WSJ: instead, he’s only interested in the difference between that amount and its mark-to-market value on a certain date chosen to make him feel as miserable as possible.

The whole thing.