The world clings to its old mental picture of the stock market because it’s comforting; because it’s so hard to draw a picture of what has replaced it; and because the few people able to draw it for you have no interest in doing so.

The only thing history teaches us, a wise man once said, is that history doesn’t teach us anything.

We aren't natural statisticians. What we are is natural storytelling machines. And so what we do after we have the facts in hand is build a story to explain the facts.

There used to be this guy called Vinny who worked on the floor of the stock exchange, said one big investor who had observed the market for a long time. After the markets closed Vinny would get into his Cadillac and drive out to his big house in Long Island. Now there is the guy called Vladimir who gets into his jet and flies to his estate in Aspen for the weekend. I used to worry a little about Vinny. Now I worry a lot about Vladimir

Girls tend to attribute their failures to factors such as lack of ability, while boys tend to attribute failure to specific factors, including teachers' attitudes. Moreover, girls avoid situations in which failure is likely, whereas boys approach such situations as a challenge, indicating that failure differentially affects self-esteem.

I procrastinate to a point where I'm filled with self-loathing and then I start writing. It's usually a state of self-loathing that gets me going.

Warren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.