- Being wrong is part of life. Embrace it. More importantly, learn from being wrong so you can increase the odds that you won’t make the same mistakes twice.
- Stay open-minded about things. A dogmatic view of the world is a naive view of the world. And a dogmatic view of the economy will often lead you astray.
- People who think they know everything are dangerous and usually selling you something you don’t want to buy.
- Don’t ever confuse ideology with reality. Politics and markets just don’t mix.
- Don’t ever let someone sell you fear in exchange for your time and money. 8 times out of 10 you’ll be on the losing end of that exchange.
- Being cruel to other people is rarely worth it (especially on the internet). You’ll never pull yourself up by trying to tear other people down.
- Never be afraid to ask other people for help about something.
- The internet is the most amazing place and also the worst place in the world at the same time. Try to contribute to making it the most amazing place.
- The Fed is a lot more powerful than we think. Even when they’re implementing a policy that doesn’t seem to have a fundamental transmission mechanism.
- There’s a lot more to life than money and material goods. In fact, obtaining the best things in life usually don’t involve money or material goods.
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