Wall Street Is Not Being Made A

In Bakersfield, California, A Mexican Strawberry Picker With An Income Of $14,000 And No English Was Lent Every Penny He Needed To Buy A House For $724,000.

People Really Don't Like To Hear Success Explained Away As Luck — Especially Successful People. As They Age, And Succeed, People Feel Their Success Was Somehow Inevitable. They Don't Want To Acknowledge The Role Played By Accident In Their Lives. There Is A Reason For This: The World Does Not Want To Acknowledge It Either. If You Use Better Data, You Can Find Better Values; There Are Always Market Inefficiencies To Exploit, And So On. But It Has A Broader And Less Practical Message: Don't Be Deceived By Life's Outcomes. Life's Outcomes, While Not Entirely Random, Have A Huge Amount Of Luck Baked Into Them. Above All, Recognize That If You Have Had Success, You Have Also Had Luck — And With Luck Comes Obligation.

What Are The Odds That People Will Make Smart Decisions About Money If They Don't Need To Make Smart Decisions--if They Can Get Rich Making Dumb Decisions? The Incentives On Wall Street Were All Wrong; They're Still All Wrong.

Thirdly-but Not Lastly-there Was The Bias Toward What People Saw With Their Own Eyes, Or Thought They Had Seen. The Human Mind Played Tricks On Itself When It Relied Exclusively On What It Saw. There Was A Lot You Couldn't See When You Watched A Game

My Judgement Is Not Good When I Am On A Book Tour. I Am Not Thinking About It That Much. What Happens Is I Will Go Back Home. I Have A 4-year-old And A 1-year-old And A Wife Who Is Now Taking Care Of Them Who Is Wondering Where Her Husband Is.