Srimad Bhagavatam Canto 08, Chapter 11, Text 08

SB 8.11.8

tad idam kala-rasanam
 jagat pasyanti surayah
na hrsyanti na socanti
 tatra yuyam apanditah
Translation by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada: 
Seeing the movements of time, those who are cognizant of the real truth neither rejoice nor lament for different circumstances. Therefore, because you are jubilant due to your victory, you should be considered not very learned.
Purport by His Divine Grace A. C. Bhaktivedanta Swami Srila Prabhupada: 
Bali Maharaja knew that Indra, King of heaven, was extremely powerful, certainly more powerful than he himself. Nonetheless, Bali Maharaja challenged Indra by saying that Indra was not a very learned person. In Bhagavad-gita (2.11) Krsna rebuked Arjuna by saying:
asocyan anvasocas tvam
 prajña-vadams ca bhasase
gatasun agatasums ca
 nanusocanti panditah
“While speaking learned words, you are mourning for what is not worthy of grief. Those who are wise lament neither for the living nor the dead.” Thus as Krsna challenged Arjuna by saying that he was not a pandita, or a learned person, Bali Maharaja also challenged King Indra and his associates. In this material world, everything happens under the influence of time. Consequently, for a learned person who sees how things are taking place, there is no question of being sorry or happy because of the waves of material nature. After all, since we are being carried away by these waves, what is the meaning of being jubilant or morose? One who is fully conversant with the laws of nature is never jubilant or morose because of nature’s activities. In Bhagavad-gita (2.14), Krsna advises that one be tolerant: tams titiksasva bharata. Following this advice of Krsna’s, one should not be morose or unhappy because of circumstantial changes. This is the symptom of a devotee. A devotee carries out his duty in Krsna consciousness and is never unhappy in awkward circumstances. He has full faith that in such circumstances, Krsna protects His devotee. Therefore a devotee never deviates from his prescribed duty of devotional service. The material qualities of jubilation and moroseness are present even in the demigods, who are very highly situated in the upper planetary system. Therefore, when one is undisturbed by the so-called favorable and unfavorable circumstances of this material world, he should be understood to be brahma-bhuta, or self-realized. As stated in Bhagavad-gita (18.54), brahma-bhutah prasannatma na socati na kanksati: “One who is transcendentally situated at once realizes the Supreme Brahman and becomes fully joyful.” When one is undisturbed by material circumstances, he should be understood to be on the transcendental stage, above the reactions of the three modes of material nature.
Srimad Bhagavatam Canto 08, Chapter 11, Text 07
Srimad Bhagavatam Canto 08, Chapter 11, Text 09