The work I'm doing today gets me one step closer to the work I should be doing tomorrow. And that the way I learn this is by trying, failing, networking and experimenting. I'll stop doing that when I'm dead.

The bottom line: All of your investing decisions should be grounded in your own investment policy statement. By taking a "top-down" look at your finances and writing out a road map, your policy statement will add an important element of discipline to your approach.

The problem is not the sentiment, it's the execution. When a company makes a mistake, the individual benefits because they've learned how NOT to do something while the institution had to pay for the mistake.

I don't know if you hear this often but I would say The Razor's Edge (loosely based on a great W. Somerset Maugham novel). This was Bill Murray's first dramatic role so everyone thought he stunk in this deep character but I thought he and the movie were great. The movie takes place over decades so you see Murray's character go from goofy playboy all the way to wiser, older person. It's basically a movie version of the journey I described.

If the question is, how do we best produce business people who can succeed in the post-Great Recession era, then I think the MBA programs and their connection to large companies remains intact but it's not the path to a "Business Brilliant" life. It's a path to a middle-class existence marked by large stretches of security and comfort with occasional eruptions that you're probably ill-prepared to handle. Do I sound too cynical?

Harkening back to a story about my grandfather, I was lucky to attend a great high school in New York, Bronx High School of Science, which has produced more Nobel prize winners than any other high school in America.

However, I believe that large groups make markets, so serving the needs of large groups is a simple approach to success in business success. But that's no reflection on whether or not they're making wise moves or good calls. It's just about filling the need.