We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it.

All of us would be better investors if we just made fewer decisions.

If individuals are rational, there is no need to protect them against their own choices.

Intuitive diagnosis is reliable when people have a lot of relevant feedback. But people are very often willing to make intuitive diagnoses even when they're very likely to be wrong.

Clearly, the decision-making that we rely on in society is fallible. It's highly fallible, and we should know that.

If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.

We are often confident even when we are wrong, and an objective observer is more likely to detect our errors than we are.