Moody Boss - how do you handle it?

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Okay, maybe I shouldn't be complaining because in all reality, I have a job, and it's a great job and I love it and the people I work with. It's the "MAN" I work for - whom I will refer to as "Boss" from here on in. He's young, single, wealthy, was handed a portion of the corporation to him by his Father (who is the Owner) and for some reason this gave him an excuse to be rude, abnoxious and arrogant but above all else - MOODY! I can handle the rude and abnoxious behaviour because I'm older than him and I remember to REMIND him of this constantly. We have a GREAT working relationship until his mood swings kick in. I've been battling with his mood swings for 5 years now and I think I'm at my wits end and don't know what to do. I've tried talking to him in the past about it and he'll be good for a day or 2 and then its starts up again. Everytime I'll have to remind him that he's "miserable today" or when I realize the day he's having I'll refer to him as "Mr Crabby" which will make him laugh but then go right back to being Mr Crabcakes. Does anyone else work with someone like this? I mean I love the kid, he means well, he just doesnt know how to deal with pressure and people I guess? There is no education background either - like I said, dad handed him a piece of the company and said let me see what you got kid...... Any tips or suggestions on how not to let his moods make ME MOODY? Thanks