Know what your people are like, and make sure they do their jobs excellently.

I treasure the fact there's media freedom, but with that goes responsibility. I think that there should be a self-regulatory organization and that they should start to think about standards. Because I think a lot of people say, "I don't know how to read what is true versus somebody else's interpretation."

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

People who excel at book learning tend to call up from memory what they have learned in order to follow stored instructions. Others who are better at internalized learning use the thoughts that flow from their subconscious. The experienced skier doesn't recite instructions on how to ski and then execute them; rather, he does it well "without thinking," in the same way he breathes without thinking. Understanding these differences is essential.

Constantly probe the people who report to you, and encourage them to probe you.

People who acquire things beyond their usefulness not only will derive little or no marginal gains from these acquisitions, but they also will experience negative consequences, as with any form of gluttony.

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.