It is important to note, however, that Donald J. Trump was not reckless.
He applied wise and prudent techniques to control risk, and then he
acted decisively. That is the approach that builds success.
Bravery, Recklessness, and Cowardice
All three of these traits can be defined in their relationship to risk:
• Brave people understand risks, take steps to minimize them, and
then act despite the presence of those risks. In other words, they take
calculated risks. They are the people who make things happen.
• Reckless people charge ahead without stopping to consider the risks
they are facing. Many of them score an occasional win, but few keep
on winning indefinitely. They are relying on dumb luck.
• Cowardly people are paralyzed by fear. They never act. They remain
immobilized in most all areas of life, avoiding anything as risky as
real estate. You won’t hear them mentioned again in this book.
A Rock-Solid Way to Minimize Risk
People who succeed in real estate are brave, but not reckless. They have
developed some very effective strategies for analyzing a problem and
taking action:
• First, they accept the reality that real estate investments are risky. In
other words, they are realistic.
• Second, they invest the time to understand the risks that surround
what they want to achieve.
