Further, in writing, I feel corrupt and unethical if I have to look up a subject in a library as part of the writing itself. This acts as a filter--it is the only filter. If the subject is not interesting enough for me to look it up independently, for my own curiosity or purposes, and I have not done so before, then I should not be writing about it at all, period. It does not mean that libraries (physical and virtual) are not acceptable; it means that they should not be the source of any idea.

The three most harmful addictions are heroin, carbohydrates, and a monthly salary.

A good maxim allows you to have the last word without even starting a conversation.

Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.

Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain.

...maximize the serendipity around you.

Weak men act to satisfy their needs, stronger men their duties.