First, Know well that Intellectuality is not intelligence. To be intellectual is to be phony; it is a pretending intelligence. It is not real because it is not yours; it is borrowed. Intelligence is the growth of inner consciousness. It has nothing to do with knowledge, it has something to do with meditativeness. An intelligent person does not function out of his past experience; he functions in the present. He does not react, he responds. Hence he is always unpredictable; one can never be certain what he is going to do.
If you have more than 120 or 130 I.Q. points, you can afford to give the rest away. You don't need extraordinary intelligence to succeed as an investor.
And therefore only the enlightened sovereign and the worthy general who are able to use the most intelligent people as agents are certain to achieve great things.
Even the greatest fool can accomplish a task if it be after his heart. But the intelligent man is he who can convert every work into one that suits his taste. No work is petty. Everything in this world is like a banyan seed, which, though appearing tiny as a mustard seed, has yet the gigantic banyan tree latent with it. He indeed is intelligent who notices this and succeeds in making all work truly great.
Sane and intelligent human beings are like all other human beings, and carefully and cautiously and diligently conceal their private real opinions from the world and give out fictitious ones in their stead for general consumption.
There are three kinds of intelligence: one kind understands things for itself, the other appreciates what others can understand, the third understands neither for itself nor through others. This first kind is excellent, the second good, and the third kind useless.
More investment sins are probably committed by otherwise quite intelligent people because of "tax considerations" than from any other cause. One of my friends-a noted West Coast philosopher-maintains that a majority of life's errors are caused by forgetting what one is really trying to do. This is certainly the case when an emotionally supercharged element like taxes enters the picture (I have another friend-a noted East Coast philosopher who says it isn't the lack of representation he minds-it's the taxation).