Almost Everything Is Like A Machine.

Some People Have Subject Matter Expertise In One Thing. Some People Tend To Be Creative But Not Reliable, And Others Are Reliable But Not Creative. Everybody Has Different Dimensions.

He Who Lives By The Crystal Ball Will Eat Shattered Glass.

The Biggest Mistake Investors Make Is To Believe That What Happened In The Recent Past Is Likely To Persist. They Assume That Something That Was A Good Investment In The Recent Past Is Still A Good Investment. Typically, High Past Returns Simply Imply That An Asset Has Become More Expensive And Is A Poorer, Not Better, Investment.

To Have An Idea Meritocracy, One Needs To Do Three Things. First, They Have To Put Their Honest Thoughts On The Table, For Everyone To Look At And Everyone To Work Through. Second, They Need To Have Thoughtful Disagreement, By Which There Are Quality Exchanges, In Which There's Open Mindedness And The Realization That No One Has All The Right Answers. And You Can Work Through That And Get To Better Answers Because Good Collective Decision Making Is Better Than Any Individual Decision Making. And Third, You Have To Have Ways Of Getting Past The Disagreements If They Remain.

We Don't Know What Truth Is Anymore. You Or Other Media People Can Say There's No Problem, But You're Losing Your Credibility. There's Distortion, And It's Hurting Our Society. And As A Result Of That, There Will Be Forces That, One Way Or Another, Are Going To Naturally Bring That Into Equilibrium.