Warren Buffett was once playing golf at Pebble Beach with Charlie Munger (Berkshire Hathaway Vice-Chairman), Jack Byrne (Fireman’s Fund Chairman), and another person.
One of them proposed. “Warren, if you shoot a hole-in-one on this 18-hole course, we’ll give you U$10,000. If you don’t shoot a hole-in-one, you owe us U$10”.
Warren thought about it and said, “I’m not taking the bet.”
The others said, “Why don’t you? The most you can lose is U$10. You can make U$10,000.”
Warren replied, “If you are not disciplined in the little things, you won’t be disciplined in the big things.”
Source: Farnam Street Blog