Throughout, he has followed one unusual financial lesson, which he calls "some of the best advice" he has ever gotten: "borrow money when you don't need it."
Fertitta tells CNBC that this counter-intuitive tip makes good sense for two reasons.
First, borrowing when times are good allows you to have cash on hand when times are tough. Fertitta points out that it is actually most difficult to borrow money when you are struggling. In fact, that's when you most need reserves in the bank.
Second, by accepting interest rates as the price of doing business you gain one vital tool: liquidity.