With huge market swings happening around the world, many professional risk takers are losing their shirts. We got some advice from another type of risk taker: lndyCar legends, who have been able to manage high volatility both on and off the track. From racing icons Roger Penske and Mario Andretti to second-generation driver Graham Rahal, these high-speed heroes have learned to handle whatever is thrown their way.
"You got to roll with the punches. You can't do too much with the things that are out of your control," said Mario Andretti. The legendary Indy 500 champion has transitioned into an entrepreneur with business interests, including 37 gas stations as part of a wholesale fuel distribution business.
"Sometimes you have to take risks and not all of them are well calculated," said Andretti, reflecting upon a career filled with ups and downs. When asked what his biggest money mistake was, he laughed and said, "Too many to mention!"
A lot of Andretti's success has come from partnering with other experts. His oil business was created through a partnership with M.J. Castelo, a former Texaco marketing executive. His winery came to be through an investment joined by Joe Antonini, the former CEO of Kmart. "I'm surrounded by wonderful people, my managing firm and my staff. I couldn't be happier. We're good."