When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more accurate.

We favor the visible, the embedded, the personal, the narrated, and the tangible; we scorn the abstract.

Life is a tightrope between two errors: generalizing the wrong particular and particularizing the wrong general.

If I ask you to write down the last 4 digits of your social security number, and then take you out to lunch and ask you how many dentists there are in Manhattan, there's going to be a high correlation between those two numbers. What happens is that the number psychologically makes you feel confident.

When you write, you don't have the social constraints of having people in front of you, so you talk about abstract matters.

A country's assets reside in the tinkerers, the hobbyists, and the risk-takers.

If you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather than artificially prop up everything.