Thought of the Day by Jamie Dimon: 'Don’t do anything stupid. And don’t waste money. Let everybody else waste money and do stupid things; then we’ll buy them'. How to use this in business and investment?

Jamie Dimon, one of America's most well-known bankers, advises people to stay disciplined and focussed and avoid reckless spending or risky moves. By this, the CEO of JPMorgan Chase means that one should patiently wait for others to make mistakes so you can profit from their errors. This quote can be applied in business and investments too to navigate risks, losses.