You know, the standard state for people is 'mildly pleasant.' Negative emotions are quite rare, and extremely positive emotions are rare. But people are mildly pleased most of the time, they're mildly tired a lot of the time, and they wish they were somewhere else a substantial part of the time - but mostly they're mildly pleased.

Although professionals are able to extract a considerable amount of wealth from amateurs, few stock pickers, if any, have the skill needed to beat the market consistently, year after year.

Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.

When people believe a conclusion is true, they are also very likely to believe arguments that appear to support it, even when these arguments are unsound.

If individuals are rational, there is no need to protect them against their own choices.

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.

A large portion of the weekend effects is explained by differences in the amount of time spent with friends or family between weekends and weekdays.