https://en.wikipedia.org/wiki/Charlie_Munger
In college and the Army, he developed what he considered "an important skill": card playing. He used this in his approach to business.
"What you have to learn is to fold early when the odds are against you, or if you have a big edge, back it heavily because you don't get a big edge often. Opportunity comes, but it doesn't come often, so seize it when it does come."