This Day in History...
On August 29th, 1776 American forces under General George Washington withdrew from the island of Manhattan to Westchester, New York. Washington led rebel militiamen in driving the British out of Boston earlier in the year, but afterward his outmanned Continental Army suffered mostly through minor defeats, humiliation and retreats. He refused to give up, but he also refused to risk his entire force when annihilation was a possible outcome.
For the next six years he conducted a defensive war, avoiding a decisive engagement until he had the advantage of numbers and surprise near Yorktown, Virginia. Washington managed to slowly erode the British will to fight, while refusing to commit his entire force to anything like a decisive engagement. In investment terms, he made the most of his opportunities. He had the patience to wait and avoided the emotional temptation to bet it all on one throw of the proverbial dice. And, most importantly, he avoided the big loss.
Don't wait for history to happen...