An asset is defined strictly by its ability to put money in your pocket, while anything that takes money out is a liability.

“in your business an asset is anything that puts money in your pocket and a liability is anything that takes money out of your pocket.”

One should prioritize mastering a single strategy and investing in assets rather than diversifying into too many things.

“That's what they always said since I was little, that phrase always stuck with me. And when you focus on a single strategy, on a single thing, which again has to be something you're passionate about, because if you're not passionate about it, you won't give it the dedication”