The incentives are still rotten, and people are still paid to do things they shouldn't be doing. The reforms did not really address the incentives, the system is still dysfunctional and there are still behavioural issues that need to be addressed.

There was but one question he left unasked, and it vibrated between his lines: if gross miscalculations of a person's value could occur on a baseball field, before a live audience of thirty thousand, and a television audience of millions more, what did that say about the measurement of performance in other lines of work? If professional baseball players could be over- or under valued, who couldn't?

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

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.

Just because you've been successful and just because you've disrupted an environment, doesn't mean you're a role model or that you actually have anything to teach anybody. There's an awful lot of luck and accident in the world, and maybe you were just on the receiving end of that.

As idiotic as optimism can sometimes seem, it has a weird habit of paying off.

If you’ve got a dozen pitchers, you need to speak 12 different languages.