Thinking a lot about leverage and positions in situations. There are two sides of leverage and its best to be on the right side of leverage.
An example of this is Farnam Street's recent newsletter #508 where he says the following:
You don’t need to be smarter than others to outperform them if you can out-position them.
Anyone looks like a genius when they’re in a good position, and even the smartest person looks like an idiot when they’re in a bad one. When circumstances change, the person with low leverage and cash in the bank has many ways to play their hand and come out on top. On the other hand, the person with high leverage and no cash buffer has few.
Time is the friend of someone properly positioned and the enemy of someone poorly positioned.
This year I'm putting both my focus and energy into becoming the person who is in a good position and allowing time do its work.