In summary, there are several important themes developed by Sun Tzu as they an be applied to portfolio mana!ement and ris" mana!ement hallen!es# Strate!i $lannin! And Rational Analysis $lannin! based on rational analysis of the best %uality information available# Importane &f Information And Related $roessin! Capability Seure the best information available# $rotet the soures and proessin! apabilities from ompromise# Importane &f 'no(led!e, Wisdom, And )nderstandin! A theme that is imbedded in virtually every other theme, espeially in re!ard to "no(in! self and opposition# Study The $ast, *ar"et Analysis, +evelop And *aintain An ,-d!e, .eads to "no(led!e, (hih, if properly foused, an lead to suess# Strive to become the superior force in more than mere numbers. This is achieved through focused knowledge and experience, which, in turn, is gained by studying and observing situations, conditions, people, and events; remembering what was observed; comparing the observations to one another as well as to contemporary circumstances; and by disciplined application of the results of the observations in the pursuit of strategic objectives. 'no( yourself, your opposition, and the environment (ithin (hih interation (ill our# Staying Focused n Strategic bjectives !eep attention of all resources and related action focused on achieving strategic objectives as promptly as possible. "void becoming distracted by the nuances and intricacies of implementing complex strategies and tactics. Suitability &f Strate!ies And Tatis To Situation *ath the suitability of strate!ies and tatis to the mar"et/s phase, setion, pattern, and volatility# Inherent Advanta!es And +isadvanta!es )nderstand, and !uard a!ainst, the inherent disadvanta!e in every advanta!eous situation# .i"e(ise, be alert to apitalizin! on advanta!es that our in distressed situations# &pportunisti 0le1ibility In Adaptin! Strate!ies And Tatis To Situation The (ay to apitalize on the endless opportunities reated by ever-han!in! mar"et onditions, is to beome en!a!ed as a part of a (ell thou!ht out tradin! plan and be fle1ible in adaptin! tatis to those ever-han!in! mar"et onditions (ithin the onte1t of eah pre-determined strate!y# -thial Condut #e moral and ethical in all things. Rely &n 2our &(n $reparation Rely on your o(n preparations# +o not hope for suess based on the opposition not preparin!# Competent *ana!ement +evelop a balaned mana!ement s"ill set to enable prudent resoure utilization# +isiplined -motions *inimize emotional influenes 3hope, fear, !reed4# +isiplined &r!anization And 0inanial *ana!ement +isipline, effiient, and effetive or!anization, and utilization of all resoures 3people, plans, tools, apital4, in the apaity to (hih they are best suited, in all situations, is ritial to suess# -nsure appropriate finanin! and provisionin! of all ativities 3prior to and durin!4# Clear Communiation -nsure lear ommuniation in all aspets of the development, testin!, and implementation of strate!ies and tatis# +eeption And ,Shapin!, $ratie deeption in plans, strate!y, and tatis, and its orollary5 "voidance f #eing $eceived "nd %Shaped% Take precautionary steps to avoid being deceived by the opposition. Re(ard, Replenish, And Invest In Support Struture After a suessful strate!y, be sure to alloate appropriate parts of the profits to all resoures employed in the portfolio mana!ement and ris" mana!ement ativity# &atience, &ositioning, "nd Timing +evelop patiene and disipline in positionin! and timin! the use of all resoures in adaptin! to ever-han!in! irumstanes# Avoidane &f Catastrophi .oss "void catastrophic mistakes, by promptly adapting strategies and tactics to current circumstances, thereby, keeping the conse'uences of mistakes small and manageable. $reservation And $rotetion &f Resoures At all times, and espeially (hen strate!ies are in play, see" to "eep all resoures in profitable and advanta!eous positions# .i"e(ise, %ui"ly li%uidate unprofitable positions and minimize e1posure to situations (ith inordinate ris" to unertain mar"et movements#