Become OK with a lot of things going wrong. You can be wrong half the time and still make a fortune, because a small minority of things account for the majority of outcomes. No matter what you’re doing with your money you should be comfortable with a lot of stuff not working. That’s just how the world is. So you should always measure how you’ve... See more

And how we allocate our resources—our time, talent, and energies—is how we determine the actual strategy of our lives.

A strategy—whether in companies or in life—is created through hundreds of everyday decisions about how you spend your time, energy, and money. With every moment of your time, every decision about how you spend your energy and your money, you are making a statement about what really matters to you. You can talk all you want about having a clear... See more

We can really change only two things: our own minds and our own behavior.

You say, “You’re annoying me! You’re getting on my nerves.” When you think like this, you’re actually fooling yourself because other people really cannot make you angry.

The challenge for us is that no amount of studying or open-mindedness can genuinely recreate the power of fear and uncertainty.

Here is a way to frame the investments that we make in the strategy that becomes our lives: we have resources—which include personal time, energy, talent, and wealth—and we are using them to try to grow several “businesses” in our personal lives.

Second, most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you’re probably being slow. . . . If you’re good at course correcting, being wrong may be less costly than you think, whereas being slow is going to be expensive for sure.

The people who oppose your perspective are the best people to point to your blind spots and help you avoid making mistakes or fighting for the wrong thing.