One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.

Policy makers, like most people, normally feel that they already know all the psychology and all the sociology they are likely to need for their decisions. I don't think they are right, but that's the way it is.

There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.

You're surprised by something, but you don't really know what surprised you; you recognize someone, but you don't really know what cues cause you to recognize that person.

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

Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.

The experiencing self lives its life continuously. It has moments of experience, one after the other.