Next to knowing when to seize an opportunity, the next important thing is to know when to forego an advantage.

The saying contrasts two kinds of judgment that often get conflated: opportunism and restraint. Disraeli’s point is that success is not only a matter of grasping openings when they appear, but also of recognizing when a tempting “advantage” would be costly—ethically, politically, or strategically—to take. In public life especially, short-term gains can damage reputation, alliances, or long-term objectives. The quote elevates self-command and prudence to the same rank as boldness: the mature leader (or individual) knows when to decline leverage, refrain from pressing a point, or leave value on the table to preserve larger ends.