Endlessly amused by people's minds.

Knowing the importance of luck, you should be particularly suspicious when highly consistent patterns emerge from the comparison of successful and less successful firms. In the presence of randomness, regular patterns can only be mirages.

Clearly, the decision-making that we rely on in society is fallible. It's highly fallible, and we should know that.

You should not take your intuitions at face value.

There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game of chance.

Economists think about what people ought to do. Psychologists watch what they actually do.

Banks are run by executives, and executives protect themselves, and that does not always mean that banks are going to behave rationally.