The old man's horse.
His horse ran away — bad luck, said the neighbours; who knows, said the old man. It came back with a wild horse — good luck; who knows. His son broke his leg riding it — bad luck; who knows. Then the army came for every able-bodied young man in the district, and did not take him.
The story is from the Huainanzi, a second-century BCE compilation, and it has condensed into a four-character proverb — sai weng shi ma, the old man of the frontier loses a horse — that essentially every Chinese speaker knows and uses. An old man's horse runs off into barbarian territory. The neighbours commiserate; he asks how they know it is not good fortune. Months later the horse returns bringing a fine barbarian horse with it. They congratulate him; he asks how they know it is not bad fortune. His son rides the new horse, falls, and breaks his hip. They commiserate; how do you know it is not good fortune. A year later the nomads invade, every able-bodied young man in the district is conscripted, and nine in ten die. The son, lame, stays home. The proverb functions in ordinary Chinese speech as a piece of practical consolation and its philosophical content is exact: judgments about fortune are made from inside an unfinished sequence.
His neighbours came to console him. The old man said: how do you know this is not good fortune?
Huainanzi, chapter 18 (rendered)The four characters of the proverb, sai weng shi ma, are still ordinary Chinese speech.
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