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People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate by buying insurance, including totally absurd policies like air travel.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Policy
Absurd
Small
Totally
Idea
Including
Compensate
Hate
Air
Contemplate
Ideas
Travel
Contemplating
Even
Losing
Insurance
Like
Loss
Policies
People
Terrible
Buying

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If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.
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An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
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When action is needed, optimism, even of the mildly delusional variety, may be a good thing.
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All of us would be better investors if we just made fewer decisions.
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If you're going to be unreligious, it's likely going to be due to reflecting on it and finding some things that are hard to believe.
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Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
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People are really happier with friends than they are with their families or their spouse or their child.
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