I think meditation has been the single biggest reason for whatever success Ive had

The big question is: When will the term structure of interest rates change? That's the question to be worried about.

Each person assesses each other person's credibility on different dimensions, because people are strong and weak in different things.

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.

Be wary of the arrogant intellectual who comments from the stands without having played on the field.

One of the greatest sources of problems in our society arises from people having loads of wrong theories in their heads - often theories that are critical of others - that they won't test by speaking to the relevant people about them. Instead, they talk behind people's backs, which leads to pervasive misinformation.

I have a bad rote memory, but I tend to learn through my experiences. And then when I went into the markets, and then starting my business as an entrepreneur, that affected my thinking a lot, too, because in order to be successful as both an investor and an entrepreneur, one has to be an independent thinker and bet against the consensus and be right. Because the consensus is built into the price, and if you're not an independent thinker in the markets you won't succeed. And if you're not an independent thinker as an entrepreneur starting out, you're not going to bring anything special.