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.

The illusion that we understand the past fosters overconfidence in our ability to predict the future.

Many people will admit that they made a mistake [putting money in dot-coms or telecoms at their peak] But that doesn’t mean that they’ve changed their mind about anything in particular. It doesn’t mean that they are now able to avoid that mistake.

One of the problems with expertise is that people have it in some domains and not in others.

The extra daily social time of 1.7 hours in weekends raises average happiness by about 2%.

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.

I enjoy being active, but I look forward to the day when I can retire to the Internet.