When someone tells you something, think about how you can make It sound ridiculous to someone. This in depth analysis and cynicism will help you understand It better

Don’t be so quick to trust other people’s financials suggestions or your own intuition. Stay grounded in evidence. The default — doing nothing — will never harm you (other than opportunity cost)

Risk: the difference between what you think you know and what you end up learning

2 questions to ask yourself before an investment:

1. What do I know that the person on the other side of the trade does not know?
2. Why do I think I know this while the other person doesn’t?

Baye’s rule: estimate for probability of an event based on knowledge of past similar conditions

Baye’s rate: the irreducible portion of the error

The best investors aren’t “not emotional” they are inversely emotional

“Be fearful when other people are brave and brave when other people are fearful” — Warren Buffet

Engineer your environment to aid in self control if you don’t trust yourself (which you shouldn’t)