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The Importance of Being Prepared for the Future
The Titans of industry who always seemed lucky and successful were not predicting the future, but were prepared for whatever happened. Examples like Rockefeller, Carnegie, and Berkshire Hathaway prove this. They were able to play offense during financial panics because they knew they would come. Berkshire Hathaway currently has $150 billion in cash and can thrive in any economic scenario. They don't predict the future, but they are always prepared for it.