We have associations to things. We have, you know, we have associations to tables and to - and to dogs and to cats and to Harvard professors, and that's the way the mind works. It's an association machine.

The average investor's return is significantly lower than market indices due primarily to market timing.

Laziness is built deep into our nature.

So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to.

People are really happier with friends than they are with their families or their spouse or their child.

After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.

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