Sometimes we forge our own principles and sometimes we accept others' principles, or holistic packages of principles, such as religion and legal systems. While it isn't necessarily a bad thing to use others' principles - it's difficult to come up with your own, and often much wisdom has gone into those already created - adopting pre-packaged principles without much thought exposes you to the risk of inconsistency with your true values.

You should have a strategic asset allocation mix that assumes that you don't know what the future is going to hold.

For every mistake that you learn from you will save thousands of similar mistakes in the future, so if you treat mistakes as learning opportunities that yield rapid improvements you should be excited by them. But if you treat them as bad things, you will make yourself and others miserable, and you won't grow.

I think the industry can probably self-correct without regulation, but I don't believe an individual outlet can regulate itself.

Radical transparency fosters goodness in so many ways for the same reasons that bad things are more likely to take place behind closed doors.

When people get at each other's throat, the rich and the poor and the Left and the Right and so on, and you have a basic breakdown, that becomes very threatening.

It is a law of nature that you must do difficult things to gain strength and power. As with working out, after a while you make the connection between doing difficult things and the benefits you get from doing them, and you come to look forward to doing these difficult things.