It’s the time of year when I speak with friends at the giving, and receiving, side of the athletic sponsorship industry – athletes looking for money, and companies looking for an edge.

Over the long-term, it pays well to remember to “always be willing to make a little less money to maintain your values.”

Avoid athletes, sports and companies that have a track-record of broken promises and lying. Relationships with these types of individuals rarely end well.

Remember that we share a psychology that enables beauty, speed and charisma to overwhelm our good sense.

Fraud (by people that checked out) has been my largest source of loss, and mental anguish.

When faced with a situation that doesn’t check out you’re best to take the pain of not doing a deal. Far cheaper in the long-run.

Do you remember the anointed successor to Warren Buffet that got caught dealing for his own account? Huge news at the time and faded from our collective consciousness. Buffett took the pain early. In sport, a year along from the Reasoned Decision, we continue to fool ourselves. The latest revelation is hundreds of new positives uncovered at the Olympic level. Is any elite sport clean? I doubt it.

If you deal with frauds, and get burned, then make yourself a note so you don’t repeat your mistakes. We have a collective memory that goes back three years, at best.

For my entire adult life, I’ve been watching rascals reinvent themselves for love and profit – each reincarnation leaving upset partners behind them.

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A good book to understand the personality type of frauds is How To Love by Livingston.