If you want to understand science, you have to understand math. In business, if you're enumerate, you're going to be a klutz. The good thing about business is that you don't have to know any higher math.

You don't have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.

It's very useful to have a good grasp of all the big ideas in hard and soft science. A, it gives perspective. B, it gives a way for you to organize and file away experience in your head, so to speak.

I have concluded that most PhD economists under appraise the power of the common-stock-based "wealth effect," under current extreme conditions... "Wealth effects" involve mathematical puzzles that are not nearly so well worked out as physics theories and never can be... What has happened in Japan over roughly the last ten years has shaken up academic economics, as it obviously should, creating strong worries about recession from "wealth effects" in reverse.

The only intelligence investing is value investing...to acquire more than one is paying for.

This is a good life lesson: getting the right people into your system is the most important thing you can do.

Learn how to ignore the examples from others when they are wrong, because few skills are more worth having.