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Simply put, investors should own less equities, more bonds, more global investments, more cash and more dry ammunition.

Investors don't like uncertainty.

Investors have to ask themselves two questions. How much can we grow our investments? And, can we afford our mistakes?

We aren't going to let our first investment be the best.

Great investors need to have the right combination of intuition, business sense and investment talent.

As much as it's sometimes hard to make choices about where you invest, it's equally hard to make choices about where you don't invest and what you eliminate.

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

Having an investor on your board of directors who is naive about public markets or finds them complex or scary is non-optimal.

If you're constantly making business decisions on behalf of your investors first, ultimately you're going to wear down your other stakeholders. It's going to be potentially hurtful for your employees and your customers and the community you do business with.

You can't have personal investors anymore because it's too expensive, so you have to have corporate investment or a lot of rich people.