We don't see very far in the future, we are very focused on one idea at a time, one problem at a time, and all these are incompatible with rationality as economic theory assumes it.

A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.

Optimistic people play a disproportionate role in shaping our lives. Their decisions make a difference; they are inventors, entrepreneurs, political and military leaders - not average people. They got to where they are by seeking challenges and taking risks.

We have no reason to expect the quality of intuition to improve with the importance of the problem. Perhaps the contrary: high-stake problems are likely to involve powerful emotions and strong impulses to action.

If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.

Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.

Ten minutes of a smartphone in front of your nose is about the equivalent of an hour long walk in bright daylight. Imagine going for an hour long walk in bright daylight and then thinking, "Now I'll get some sleep." It ain't going to happen.