Acknowledge the complexity of the world and resist the impression that you easily understand it. People are too quick to accept conventional wisdom, because it sounds basically true and it tends to be reinforced by both their peers and opinion leaders, many of whome have never looked at whether the facts support the received wisdom. It's a basic fact of life that many things "everybody knows" turn out to be wrong.

You don't train for only the 100-meter dash and you don't practice only the excerpts. When I prepared for auditions, I spent most of my time each day on scales and exercises to be my best in basic musicianship, and only a half-hour or so on the actual excerpts I'd be playing.

Teach your children or your grandchildren Chinese. It is going to be the most important language of their lifetimes.

If anybody laughs at your idea, view it as a sign of potential success!

Diversification is something that stock brokers came up with to protect themselves, so they wouldn't get sued for making bad investment choices for clients. Henry Ford never diversified, Bill Gates didn't diversify. The way to get rich is to put your eggs in one basket, but watch that basket very carefully. And make sure you have the right basket.

I learned very early in my investing careers: I better not invest in what I want. I better invest in what's happening in the world. Otherwise I'll be broke - dead broke.

The biggest public fallacy is that the market is always right. The market is nearly always wrong. I can assure you of that.