There is no understanding markets without understanding people. (Location 180)
Note: Understanding markets
You were born to fit in, but investing requires you to stand out. (Location 206)
Note: Requires stand out
trusting in common myths is what makes you human. But learning not to is what will make you a successful investor. (Location 208)
Note: Learning not to trust
Capital markets and money are perhaps the most universally cherished and highest functioning of all of these shared narratives. (Location 255)
Note: Ultimate shared narrative
Thales was asked what the hardest and most important task of humanity was, to which he replied, “To know thyself.” He was then asked the inverse and replied that “giving advice” was the thing least profitable to humankind that came very easily. (Location 282)
Note: Thales on advise
Our brains have remained relatively stagnant over the last 150,000 years, but the complexity of the world in which they operate has exponentiated. Formal markets like our stock market are just about 400 years old. It would be a gross understatement to say that our mental hardware has not caught up to the times. (Location 300)
Note: Brain - ability to understand market
large body of research suggests that investors profit most when they do the least. (Location 314)
Note: Do the least