The Illusion That We Understand The Past

The Illusion Of Skill Is Not Only An Individual Aberration; It Is Deeply Ingrained In The Culture Of The [investment Management] Industry.

Optimistic People Play A Disproportionate Role In Shaping Our Lives. Their Decisions Make A Difference; They Are Inventors, Entrepreneurs, Political And Military Leaders - Not Average People. They Got To Where They Are By Seeking Challenges And Taking Risks.

Optimism Is Normal, But Some Fortunate People Are More Optimistic Than The Rest Of Us. If You Are Genetically Endowed With An Optimistic Bias, You Hardly Need To Be Told That You Are A Lucky Person - You Already Feel Fortunate.

Managers Think Of Themselves As Captains Of A Ship On A Stormy Sea. Risk For Them Is Danger, But They Are Fighting It, Very Controlled.

Establish A Closing Ritual. Know When To Stop Working. Try To End Each Work Day The Same Way, Too. Straighten Up Your Desk. Back Up Your Computer. Make A List Of What You Need To Do Tomorrow.