Better Scared than Sorry Positioning Yourself to Hold the Best Cards

Know When and How to Say No

An early mentor of mine started out during the Depression and used to always say we were in the rejection business – that we’re paid to be cynical and that a big part of success in investing is knowing how to say no. He never dwelled on missed opportunities because something else – even the same thing later on – would always come along. I’m a big believer in that approach.