I've liked this quote for a long time. I think it is one of those quotes where not all people will recognize why people repeat it. I think you need a little bit of insight into life and people to fully appreciate it. I find it both interesting and amusing how much it applies to the current political situation in the United States
In reading the scriptures, there are two kinds of mistakes:
One mistake is to cling to the literal text and miss the inner principles.
The second mistake is to recognize the principles but not apply them to your own mind, so that you waste time and just make them into causes of entanglement.