Unfortunately, skill in evaluating the business prospects of a firm is not sufficient for successful stock trading, where the key question is whether the information about the firm is already incorporated in the price of the stock. Traders apparently lackthe skill to answer this crucial question, but they appear to be ignorant of their ignorance.

I enjoy being active, but I look forward to the day when I can retire to the Internet.

Every night for the next week, set aside ten minutes before you go to sleep. Write down three things that went well today and why they went well...Writing about why the positive events in your life happened may seem awkward at first, but please stick with it for one week. It will get easier. The odds are that you will be less depressed, happier, and addicted to this exercise six months from now.

Political columnists and sports pundits are rewarded for being overconfident.

People's mood is really determined primarily by their genetic make-up and personality, and in the second place by their immediate context, and only in the third and fourth place by worries and concerns and other things like that.

I don't try to be clever at all. The idea that I could see what no one else can is an illusion.

Intelligence is not only the ability to reason; it is also the ability to find relevant material in memory and to deploy attention when needed.