We know that the French are very different from the Americans in their satisfaction with life. They're much less satisfied. Americans are pretty high up there, while the French are quite low - the world champions in life satisfaction are actually the Danes.

People like leaders who look like they are dominant, optimistic, friendly to their friends, and quick on the trigger when it comes to enemies. They like boldness and despise the appearance of timidity and protracted doubt.

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

True intuitive expertise is learned from prolonged experience with good feedback on mistakes.

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.

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.

Finally, the illusions of validity and skill are supported by a powerful professional culture. We know that people can maintain an unshakeable faith in any proposition, however absurd, when they are sustained by a community of like-minded believers. Given the professional culture of the financial community, it is not surprising that large numbers of individuals in that world believe themselves to be among the chosen few who can do what they believe others cannot.