Liquor, lays, and leverage

If you don’t have leverage, you don’t get into trouble. That’s the only way a smart person can go broke. I’ve always said if you’re smart you don’t need it and if you’re dumb you shouldn’t be using it. My partner, Charlie, says that there’s only three ways that a smart person can go broke. He says, “Liquor, lays, and leverage.” Now the truth is the first two he just added because they started with L. It’s leverage. And when somebody tells you how they came back and made a second fortune, I’m not impressed, because why the hell would they lose their first fortune?