The best investment you can make is in yourself. But very few people do it, because it's unglamorous and requires a lot of discipline.

The best business decisions come from a place of genuine insight about human nature and incentives, not from financial models. Most people optimize for the wrong things because they haven't thought carefully about what they actually want.

The big money is not in the buying and selling, but in the waiting. Investors often confuse activity with progress—the most valuable thing you can do is simply sit with a good decision.