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Investors should start with a view of skepticism. They should become intellectual investors rather than emotional investors. They should be careful, and they should be skeptical.

But successful investors tend to be not too self-destructive. They tend to be patient, they tend not to follow the crowd, and they tend not to be too guilty about winning.

The only reason investors haven't run screaming from an obviously corrupt financial marketplace is because the government has gone to such extraordinary lengths to sell the narrative that the problems of 2008 have been fixed.

Profit is sweet, even if it comes from deception.

It is intellectually dishonest to lump venture investors with hedge fund and buy-out investors.

Investors should invest on what they know. The biggest mistake is to invest on what they don't know.

Investors are impatient and they are also desperate for the 'next big thing,' and they are not paying attention to the fact that the 'next big thing' can be an economic crisis that they have created by being very irresponsible with their power.

Too many investors overvalue companies in the near term while undervaluing them in the long term.

Never lie when the truth is more profitable.

Investors have been too willing to buy stocks with strong reported earnings, even if they do not understand how the earnings are produced.