The moment

The chapter opens with Ken Griffin recalling an elevator ride in Chicago during the 2008 financial crisis, when he privately wondered whether Citadel would still exist by evening. After years of success, his firm’s funds were plunging, major banks were failing, and public expectations pointed toward collapse.

The response

The turning point came when Citadel survived the funding shock and Griffin moved swiftly to rebuild rather than simply endure. Earlier investments in internal systems and lender relationships helped preserve control of the balance sheet. In the crisis’s final weeks and the opening weeks of 2009, he reshaped the business around the team’s distinctive strengths, drawing on their integrity, perseverance, and practical determination. The funds recovered, and Citadel emerged stronger.

What to carry forward

Griffin’s story suggests that resilience is not only courage during a crisis; it is also preparation made before the crisis arrives, curiosity that turns setbacks into expertise, and the willingness to change quickly. A difficult season can reveal a team’s character and clarify which capabilities are genuinely worth building for the moment ahead.

A question for your own story

What preparation, relationship, or capability could help you keep control and respond constructively when circumstances suddenly turn against you?

Sources cited in the chapter

Continue with the complete story in Adversity’s Gift.

A concise chapter adaptation from Adversity’s Gift by Lawrence Colbert. Read the complete story and source list in the book. Featured subjects’ inclusion is separate from endorsement.