Investing with Patient Opportunism - You don't always have to be doing something!

"At Oaktree, one of our mottos is 'we don't look for our investments; they find us.' We try to sit on our hands.  We don't go out with a 'buy list';rather, we wait for the phone to ring.  If we call the owner and say, 'You own X and we want to buy it,'  the price will go up.  But if the owner calls us and says, ' We're stuck with X and we're looking for an exit,' the price will go down.  Thus, rather than initiating transactions, we prefer to reach opportunistically."

Howard Marks - The Most Important Thing