The One Mistake We All Make.

"In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don't have the first, the other two will kill you."— Warren Buffett

If you don't know Warren, he's an American industrialist and philanthropist widely regarded as one of the most successful investors in the world. Often called the "Oracle of Omaha", he is the primary shareholder, chairman and CEO of Berkshire Hathaway. He is consistently ranked among the world's wealthiest people (third wealthiest person in the world as of 2011).

So he knows what he is talking about.

It's interesting Warren places integrity first. In today's work- and marketplace, the focus is centered on intelligence and energy. How much do you know? What experience do you have? What have you done? Are you willing to spend 10-12 hours a day (and more) knocking it out of the park for me?

But we always forget about integrity. A definition of integrity — "Adherence to moral and ethical principles; soundness of moral character; honesty."

Let's be honest — how many times do you experience a concerted effort by management to adhere to moral and ethical principles? Where everyone displays a powerful moral character? Where people don't lie and endeavor to tell the truth in their business dealings?

I'm not saying the marketplace or workplace is totally devoid of integrity. But it does take a back seat to profits, targets, stock price and power. Not even a back seat . . . it's in the trunk with the spare tire.

In the wake of all the turmoil with Wall Street, Washington, and many boardrooms, (and even on Twitter lately) we all need to begin to make harder choices based on integrity. Who we invest in, who we purchase from, who we do business with.

And sometimes we need to look within for our anchor to integrity — because sometimes we fall short. We need to also pay attention to our own actions and decisions and how they impact others.

Whatever we do, we will continue to face ethical challenges. It's how we react to them that counts.

What do you do to stay ethically anchored?

The Most Important (financial) Book You'll Buy This Year.

I read LOTS of books. And it's funny - a lot of people are amazed at the number of books I read. I don't think I read a lot - but many people I meet think I'm crazy about spending time reading books. Candidly, I feel that it's a clear sign of the 'dumbing down' of America. People are 'shamed' into not reading - you should see the faces of people when I mention I read 3-5 books at a time and finish 100-150 books a year. "Don't you have better things to do with your time?" Candidly, I don't. And you should be reading too - start with this timely and powerful tome.

You need to get Enough - True Measures of Money, Business and Life by John Bogle. Why? Let William Bernstein tell you:

"If you are wondering about the cause of the current market crisis, then you haven't been reading enough of Jack Bogle.

Because he certainly knows not only where, but why and how. For decades Jack has been communicating his disquiet in previous books, speeches, and public testimony. Years from now, when historians and investors dissect the economic and market meltdowns of 2008, they'll consult this slim, well-written volume.

In order to understand the intellectual and moral platform from which he surveys the economic wreckage, you need to know a little of his story. Bogle founded one of the world's great investment companies, the Vanguard Group. Most men in his situation would have levered such success into a multi-billion-dollar net worth; instead, he "mutualized" Vanguard, converting it, in effect, into a nonprofit organization whose only goal was to benefit its fund holders. From an ethical perspective, Vanguard is the only "investment company" worthy of that name. (As opposed to most financial firms, which are in fact "marketing companies" whose main purpose is to milk unwitting investors of fees and commissions.)

The answer to the conundrum of 2008 lies in the book’s title, "Enough," which is the punch line from a delightful Kurt Vonnegut/Joseph Heller story. Simply put, our nation has been suffering from decades of unchecked financial excess, for which we are now paying the piper: excess in investment company fees; excess in financial speculation masquerading as diversification and innovation; excess in the salaries of top executives; excess in salesmanship; and most importantly, excess in the role played by the financial industry in our national economy and national life."

Go out today and get it - it will change how you think about business, your career, money and your life.

Move Your Money.

Let's talk about the huge, growing chasm between the fortunes of Wall Street banks and Main Street banks. Let's start discussing what concrete steps individuals can take to help create a better financial system.

Let's get practical — and with some help from friends in the world of bank analysis, a video and website were produced devoted to a simple idea: Move Your Money.

Please watch and send to all your friends. Thank you.