If you can't take the time for a vacation right now, or even a night out with friends, put something on the calendar - even if it's a month or a year down the road. Then whenever you need a boost of happiness, remind yourself about it.

Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.

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

Poverty is clearly one source of emotional suffering, but there are others, like loneliness. A policy to reduce the loneliness of the elderly would certainly reduce suffering.

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.

The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.

It's a wonderful thing to be optimistic. It keeps you healthy and it keeps you resilient.