"Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half."

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The other day I went to a school in Harlem to talk to some 7th graders [12-year-olds] and I said, ‘If I have to give you some advice, the most important thing is: the sooner you become your own best friend, the better your life will be,’

— Diane von Furstenberg