On 2023-01-17, I replied to @nikhilkamathcio that sometimes, very often, the best thing to do may be nothing. This was a general observation; I did not name a specific decision or explain when inaction would be appropriate.
The reply quoted @nikhilkamathcio’s comments about Goldman Sachs’s earnings miss, deal-making as a forward indicator, and the possibility that 2023 might be tough. His suggestion to reduce leverage and diversify was his, not mine.