Whether the autobiographical bits are true or not, the highlights as presented by the article are a valuable message for people who didn't already understand as such.
In my opinion, personal financial stability (and even prosperity) can be boiled down to a few simple rules:
1. Earn more money than you lose.
2. Be very careful with debt.
3. Take risks, but be very aware of the downsides.
4. If you have to invest, invest in yourself first (education, connections, etc.) and in securities second.