I Think The Media Argues All The

An Economy Is Not A Complicated Thing; It Just Has A Lot Of Moving Parts.

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.

Radical Transparency Is Critical To Having An Idea Meritocracy Because It Shows What's Actually Happening Without Spin And Prevents People From Maneuvering Politically Behind Each Others' Backs. It Brings Problems And Weaknesses To The Surface And Allows People To See How They Are Dealt With, So It's Great For Training People On How To Deal With Real Problems.

People Who Worry About Looking Good Typically Hide What They Don't Know And Hide Their Weaknesses, So They Never Learn How To Properly Deal With Them And These Weaknesses Remain Impediments In The Future.

We Wouldn't Be Successful If We Didn't Have Independent Thinkers Who Can Argue And Then Resolve Their Arguments.