In baseball, a “called strike” occurs when a batter fails to swing at a valid pitch. And after three strikes, the batter is out. So a batter can be penalized for inaction.

When it comes to investing, as Warren Buffett often points out, there are no called strikes. As I noted last time, there are lots of ways to build a successful investment strategy. Other people don’t need to be wrong in order for you to be right. And similarly, just because something is working for someone else, doesn’t mean that you need to be pursuing that same strategy. As long as you are pursuing a reasonable strategy of your own, there’s no need to do anything different. With investing, there are no called strikes.