There is nothing to fear from truth....Being truthful is essential to being an independent thinker and obtaining greater understanding of what is right.

What I'm trying to say is that for the average investor, what I would encourage them to do is to understand there's inflation and growth - it can go higher and lower - and to have four different portfolios essentially that make up your total portfolio that gets you balanced.

An economy is not a complicated thing; it just has a lot of moving parts.

When there is pain, the animal instinct is 'fight or flight' (i.e., to either strike back or run away) - reflect instead. When you can calm yourself down, thinking about the dilemma that is causing you pain will bring you to a higher level and enlighten you, leading to progress.

Success is achieved by people who deeply understand reality and know how to use it to get what they want. The converse is also true: idealists who are not well-grounded in reality create problems, not progress.

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.

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.