Paul is referring here to the praise he received for being an eager Pharisee. He speaks of this praise as if he had viewed it in the past as a businessman's profit. Alternate translation: "anything that other Jews praised me for"
If many people in your culture do not understand formal business terms, you could translate these terms as "things that made my life better" and "things that made my life worse".
Paul speaks of that praise as if he were now viewing it as a business loss instead of a profit. In other words, Paul says that all his religious acts of righteousness are worthless before Christ.
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