No wise pilot, no matter how great his talent and experience, fails to use his checklist.

Why would you want to invest with a guy whose thought process says, "If a second layer of fees is good, then let's add a third layer.

Being short and seeing a promoter take the stock up is very irritating. It's not worth it to have that much irritation in your life.

We're the tortoise that has outrun the hare because it chose the easy predictions.

Your life must focus on the maximization of objectivity.

You can hire your advisor and then just apply a windage factor, like I used to do when I was a rifle shooter. I'd just adjust for so many miles an hour wind. Or you can learn the basic elements of your advisor's trade. You don't have to learn very much, by the way, because if you learn just a little then you can make him explain why he's right.

And your brain doesn't naturally know how to think the way Zeckhauser knows how to play bridge. "for example," people do not react symmetrically to loss and gain. Well maybe a great bridge player like Zeckhauser does, but that's a trained response. Ordinary people, subconsciously affected by their inborn tendencies.