Prudence is foresight and far-sightedness. It's the ability to make immediate decisions on the basis of their longer-range effects.

Prudence is not the same thing as caution. Caution is a helpful strategy when you're crossing a minefield; it's a disaster when you're in a gold rush.

Prudence is not hesitation, procrastination, or moderation. It is not driving in the middle of the road. It is not the way of ambivalence, indecision, or safety.

Prudence is what makes someone a great commodities trader - the capacity to face reality squarely in the eye without allowing emotion or ego to get in the way. It's what is needed by every quarterback or battlefield general.

Prudence is what makes someone a great commodities trader - the capacity to face reality squarely in the eye without allowing emotion or ego to get in the way. It's what is needed by every quarterback or battlefield general.

Better is to bow than breake.