Page 205 - The Way to the Top
P. 205
James S. TISCH
CEO of Loews Corporation
Too often business people feel a need to take action where no action is
necessary. Likewise, they often feel the urge to invest even though the
time may not be appropriate. Out of this sometimes destructive pattern of
reflexive action has arisen our maxim: “If there is nothing to do, do
nothing.”
The corollary with respect to investing is: “When there is nothing to
buy, make sure you have asbestos-lined pockets so that money will not
burn a hole in them.”
Inaction is sometimes the best action
