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.

The average investor's return is significantly lower than market indices due primarily to market timing.

... sometimes when you are asked a question that is difficult, the mind doesn't stay silent if it doesn't have the answer. The mind produces something, and what it produces very characteristically is the answer to an easier but related question.

We deeply want to be led by people who know what they're doing and who don't have to think about it too much.

People should be conscious of the large contribution made by anything that gets people together easily in the reduction of loneliness and emotional well-being.

Facts that challenge basic assumptions-and thereby threaten people's livelihood and self-esteem-are simply not absorbed. The mind does not digest them.

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