Wednesday, October 25, 2006

Letting It Go

Ask Uncle Bill discusses the concept of “never complain, never explain":

Each time I talk to him I try to steer away from the dot bust and back to his kids, his IRA, his paid up house, his rental houses, his great investment in San Diego townhouses but no, the talk always centers around the dot deal and that son of a bitch broker. My friend expends a lot of energy on that guy who, surpise, got cashiered out of the investment business and is probably in jail right now. Which is probably a good thing for him since I'm sure my friend would blast him away with a M-16 if he had one.

We all make mistakes, pass on good deals, invest in bad ones. I should have bought a house in San Francisco when I was three but I didn't. The real thing to avoid is betting the house on one deal. Or if you do, be ready to lose it all and walk away. People that buy businesses or start a business, do this all the time. That's fine but be ready to lose everything and be ready to start over again.

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