Thirdly-but not lastly-there was the bias toward what people saw with their own eyes, or thought they had seen. The human mind played tricks on itself when it relied exclusively on what it saw. There was a lot you couldn't see when you watched a game

The Red Sox are a curious thing because so much here is media driven. You can't go fire half your scouts here because they are all friends with the local reporters. Your life is going to hell in the papers.

Everything, in retrospect, is obvious. But if everything were obvious, authors of histories of financial folly would be rich . . .

The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.

What's fun is watching actors of that calibre bring them to life. It's incredible. Christian Bale spent a day with the character he plays and after my year of being with him I couldn't have generated the same view of him. They have a different way of looking at people, it's fascinating to watch.

In Japan, mothers insist on achievement and accomplishment as a sign of love and respect. Thus to fail places children in a highly shamed situation.

People in both fields operate with beliefs and biases. To the extent you can eliminate both and replace them with data, you gain a clear advantage.