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.

It's not a case of: 'Read this book and then you'll think differently. I've written this book, and I don't think differently.

There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.

There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game of chance.

If there was one ubiquitous recommendation about marriage it was this: "Don't go to bed angry."

We don’t choose between experiences, we choose between memories of experiences. Even when we think about the future, we don’t think of our future normally as experiences. We think of our future as anticipated memories.