10. Know when to quit.

To quit is not to give up. Warren Buffet makes mistakes just like any one of us, but he learns from them. He recalls: “I bought a company in the mid-’90s called Dexter Shoe and paid $400 million (Worth over $400 billion in 2021) for it. And it went to zero.” He is, however, quick to add: “Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.” Know when to walk away from a loss.

“You only have to do a very few things right in your life so long as you don’t do too many things wrong.”