And of course, Coach Valvano's most recognized quote: "Don't give up, don't ever give up." Learn to survive under adverse market conditions by avoiding large losses, and learn how to prosper during good times. Generally speaking, by maintaining discipline and stopping out your losses, you can live another day in your investing life. It is not batting averages or on-base percentages that count in this game; it is how you control the risk in your portfolio. As an example, short positions can be hedged by owning cheap out-of-the-money calls, and long positions can be hedged by owning cheap out-of-the-money puts -- especially in a low-volatility setting. Laugh, think and cry -- I always do this time of the year, as I will tonight watching the NCAA tournament finals. (I like Michigan in the upset; they are 4-point underdogs.) But it's especially true this year after overcoming my own confrontation with cancer -- it's been a shining moment for me. You, too, can have many shining investment moments -- here is the one from last year -- by applying some of Coach Valvano's life principles to your investing. The V Foundation for Cancer Research (created in 1993 by Jim Valvano) has contributed over $100 million to cancer research. If you would like to contribute, here is the website.