Finally, the illusions of validity and skill are supported by a powerful professional culture. We know that people can maintain an unshakeable faith in any proposition, however absurd, when they are sustained by a community of like-minded believers. Given the professional culture of the financial community, it is not surprising that large numbers of individuals in that world believe themselves to be among the chosen few who can do what they believe others cannot.

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.

When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.

In essence, the optimistic style involves taking credit for successes but little blame for failures.

When you analyze happiness, it turns out that the way you spend your time is extremely important.

Slow thinking has the feeling of something you do. It's deliberate.

An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.