The experiencing self lives in the moment; it is the one that answers the question, 'Does it hurt?' or 'What were you thinking about just now?' The remembering self is the one that answers questions about the overall evaluation of episodes or periods of one's life, such as a stay in the hospital or the years since one left college.

Mental effort, I would argue, is relatively rare. Most of the time we coast.

In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.

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

I don't try to be clever at all. The idea that I could see what no one else can is an illusion.

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

Question: So investors shouldn't delude themselves about beating the market? Answer: "They're just not going to do it. It's just not going to happen."