You must force yourself to consider opposing arguments. Especially when they challenge your best loved ideas.

How could economics not be behavioral? If it isn't behavioral, what the hell is it?

The beauty of a financial institution is that there are a lot of ways to go to hell in a bucket. You can push credit too far, do a dumb acquisition, leverage yourself excessively - it's not just derivatives [that can bring about your downfall].

I'd rather throw a viper down my shirt front than hire a compensation consultant.

In my whole life, I have known no wise people who didn't read all the time - none ... ZERO.

When you borrow a man's car, always return it with a tank of gas.

At most corporations if you make an acquisition and it turns out to be a disaster, all the paperwork and presentations that caused the dumb acquisition to be made are quickly forgotten. You've got denial, you've got everything in the world. You've got Pavlovian association tendency. Nobody even wants to even be associated with the damned thing or even mention it. At Johnson & Johnson, they make everybody revisit their old acquisitions and wade through the presentations. That is a very smart thing to do. And by the way, I do the same thing routinely.