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.

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.

Almost everything is like a machine.

Meditation more than anything in my life was the biggest ingredient of whatever success I've had.

People who worry about looking good typically hide what they don't know and hide their weaknesses, so they never learn how to properly deal with them and these weaknesses remain impediments in the future.

Over time, it also became important for me to share my management principles with the people I worked with because we had to agree on how we should be with each other - and that way is unique. Because the logic behind being radically honest and radically transparent with each other wasn't clear, it had to be spelled out in these principles.

I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.