A quote from Charles T. Munger.

“Our experience tends to confirm a long-held notion that being prepared, on a few occasions in a lifetime, to act promptly in scale, in doing some simple and logical thing, will often dramatically improve the financial results of that lifetime.

A few major opportunities, clearly recognizable as suc, will usually come to one who continously searches and waits, with a curious mind that loves diagnosis involving multiple variables.

And then all that is required is a willingness to bet heavily when the odds are extremely favourable, using resources available as a result of prudence in the past.”