People Assign Much Higher Probability To The

The Average Investor's Return Is Significantly Lower Than Market Indices Due Primarily To Market Timing.

Most Of The Time, We Think Fast. And Most Of The Time We're Really Expert At What We're Doing, And Most Of The Time, What We Do Is Right.

We Can't Live In A State Of Perpetual Doubt, So We Make Up The Best Story Possible And We Live As If The Story Were True.

You Know You Have Made A Theoretical Advance When You Can No Longer Reconstruct Why You Failed For So Long To See The Obvious.

This Is The Essence Of Intuitive Heuristics: When Faced With A Difficult Question, We Often Answer An Easier One Instead, Usually Without Noticing The Substitution.