Powerful friends only get you so far. They make it easy to get your foot in the door, but do not guarantee that you'll know a good deal when you see one or that you can run a business without running it into bankruptcy.

A good education gets you into SOME places -- but once you get there, it can make your efforts far more successful. Education can overcome a lot of shortcomings and provide you with a strategic advantage over the person with influence.




The Five Minute Mentor (October Update: My investing strategy and book picks)