I'm Not A Great Believer In Self-help.

The Concept Of Loss Aversion Is Certainly The Most Significant Contribution Of Psychology To Behavioral Economics.

Although Professionals Are Able To Extract A Considerable Amount Of Wealth From Amateurs, Few Stock Pickers, If Any, Have The Skill Needed To Beat The Market Consistently, Year After Year.

Individual Investors Predictably Flock To Stocks In Companies That Are In The News.

After A Crisis We Tell Ourselves We Understand Why It Happened And Maintain The Illusion That The World Is Understandable. In Fact, We Should Accept The World Is Incomprehensible Much Of The Time.

What Happens With Fear Is That Probability Doesn't Matter Very Much. That Is, Once I Have Raised The Possibility That Something Terrible Can Happen To Your Child, Even Though The Possibility Is Remote, You May Find It Very Difficult To Think Of Anything Else. Emotion Becomes Dominant.