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“Intuition is a combination of insight and imagination that was once attributed to spiritual communication. Mathematicians call it 'fuzzy logic,' drawing conclusions from vague or subjective input. The mind becomes aware without the direct intervention of reasoning. Once you can imagine something you can begin the process of creating it. Executives use intuition to make many product, investment, and hiring decisions, even if they deny it. Success in business may depend on an accurate gut.”

“The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.”

“In the financial markets, however, the connection between a marketable security and the underlying business is not as clear-cut. For investors in a marketable security the gain or loss associated with the various outcomes is not totally inherent in the underlying business; it also depends on the price paid, which is established by the marketplace. The view that risk is dependent on both the nature of investments and on their market price is very different from that described by beta.”

“Wall Street can be a dangerous place for investors. You have no choice but to do business there, but you must always be on your guard. The standard behavior of Wall Streeters is to pursue maximization of self-interest; the orientation is usually short term. This must be acknowledged, accepted, and dealt with. If you transact business with Wall Street with these caveats in mind, you can prosper. If you depend on Wall Street to help you, investment success may remain elusive.”

“Desktop publishing was a big innovation that meant small groups or even poor societies could do their own publication without the capital investment in a major printing press. That's a big difference. Same is true of more advanced technologies - it can offer plenty of liberatory possibilities - can - but whether it does or not or whether it serves for coercion depends on socioeconomic decisions.”