In return, society rewards those who give it what it wants. That is why how much money people have earned is a rough measure of how much they gave society what it wanted.
Radical transparency fosters goodness in so many ways for the same reasons that bad things are more likely to take place behind closed doors.
Successful people ask for the criticism of others and consider its merit.
I believe that the biggest problem that humanity faces is an ego sensitivity to finding out whether one is right or wrong and identifying what one’s strengths and weaknesses are.
People who confuse what they wish were true with what is really true create distorted pictures of reality that make it impossible for them to make the best choices.
Some people who are creative are not reliable and vice versa; some see big pictures while others see details, etc. All of them are important to have on well-orchestrated teams.
When two intelligent parties disagree, that’s when the potential for learning and moving ahead begins.
Almost everything is like a machine.
I believe that for the most part, achieving success – whatever that is for you – is mostly a matter of personal choice and that, initially, making the right choices can be difficult.
I also believe that everyone needs to think independently and make their own decisions on what makes the most sense.
What I’m trying to say is that for the average investor, what I would encourage them to do is to understand that there’s inflation and growth. It can go higher and lower and to have four different portfolios essentially that make up your entire portfolio that gets you balanced.
When growth is slower-than-expected, stocks go down. When inflation is higher-than-expected, bonds go down. When inflation is lower-than-expected, bonds go up.
The big question is: When will the term structure of interest rates change? That’s the question to be worried about.
There is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.
Demand is best measured in terms of spending. You know, I think in traditional economics, it’s a mistake to measure it in terms of the quantity of goods.
I notice a difference from the moment I meditate.
I don’t get caught up in the moment.
Meditation helps you stay in a calm, clear-headed state so that when challenges come at you, you can deal with them like a ninja – in a calm thoughtful way. When you’re centered, your emotions are not hijacking you.
Watch out for people who think it’s embarrassing not to know.
If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.