Like the saying goes, don't believe everything you read.

The expression I use: Pain + Reality = Progress. Whenever I would have a painful mistake, I started to view that as puzzles that would give me gems if I could solve the puzzle. So, it made me thoughtful - what should I do differently next time? That was the puzzle. And the gem was some principle for handling the same thing when it came along again, and then I would write it down. And by writing it down and referring to it, and also being able to show it to other people so that we could agree that that was a good way of handling that thing - that was very, very powerful.

I believe that understanding what is good is obtained by looking at the way the world works and figuring out how to operate in harmony with it to help it evolve.

Some people seek to understand, and some people seek to portray what they want to portray.

To make money in the markets, you have to think independently and be humble.

I've learned that each mistake was probably a reflection of something that I was (or others were) doing wrong, so if I could figure out what that was, I could learn how to be more effective.

Principles are what allow you to live a life consistent with those values. Principles connect your values to your actions.