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

A general “law of least effort” applies to cognitive as well as physical exertion. The law asserts that if there are several ways of achieving the same goal, people will eventually gravitate to the least demanding course of action. In the economy of action, effort is a cost, and the acquisition of skill is driven by the balance of benefits and costs. Laziness is built deep into our nature.

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.

That's one of the real dangers of leader selection in many organizations: leaders are selected for overconfidence.

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

When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses.

Most successful pundits are selected for being opinionated, because it's interesting, and the penalties for incorrect predictions are negligible. You can make predictions, and a year later people won't remember them.