The meaningful work and the meaningful relationships are, to me, comparable rewards. I think being on a mission to do something great is great, and to be on that mission with people who you have really meaningful relationships with not only provides both types of rewards, but it's mutually supportive. Because you can have tough love, but there's also the love part of that in terms of the caring for each other, and when you have the caring you can be tougher on each other. Some people describe it as an intellectual Navy Seals.

It's more important to do big things well than to do small things perfectly.

When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation's lower than expected, bonds go up.

The main reason I write the daily observations is because I want to know where I'm wrong. So lots of times if somebody points something out it helps me, and I want to have a diversified bet of uncorrelated bets.

Look at what caused people to make a lot of money and you will see that usually it is in proportion to their production of what the society wanted.

Successful people ask for the criticism of others and consider its merit.

We don't have ways of resolving the arguments in idea meritocratic way.