New Delhi, Feb. 7 -- It is a common belief that it is easy to make money in a bull market. Still, when the going gets tough, it becomes challenging to not only make money but to survive in the market. That is why the song quote: "When the going gets tough, the tough get going" by Billy Ocean needs to be always remembered and drawn inspiration from, even in equity investing when the market turns turbulent.

To further consolidate the focus on building a resilient portfolio one needs to have a clearly defined strategy along with the same power to think and make clear decisions.

Charlie Mungerfor example, the former Berkshire Hathaway Vice Chairman mastered this art of clear decision making during turbulent times. Giant investors and market...