Quotes From "The Undoing Project: A Friendship That Changed The World" By Michael Lewis

The secret to doing good research is always to be a little underemployed. You waste years by not being able to waste hours Michael Lewis

A lot of what people did and said when they "predicted" things, Morey now realized, was phony: pretending to know things rather than actually knowing things. There were a great many interesting questions in the world to which the only honest answer was, "It's impossible to know for sure". Michael Lewis

Stories people told themselves were biased by the availability of the material used to construct them..what people remember about the past, [Kahneman and Tversky] suggested, is likely to warp their judgement of the future. "We often decide that an outcome is extremely unlikely or impossible, because we are unable to imagine any chain of events that could cause it to occur. The defect, often, is in our imagination. Michael Lewis

You need to be so careful when there is one simple diagnosis that instantly pops into your mind that beautifully explains everything all at once. That's when you need to stop and check your thinking... Beware of the delirious guy in the emergency unit with the long history of alcoholism, because you will say, 'He's just drunk, ' and you'll miss the subdural hematoma. Michael Lewis

The trait [Morey] looked for was awareness that they were seeking answers to questions with no certain answers--that they were inherently fallible. "I always ask them, 'Who did you miss?'" he said. Which future superstar had they written off, or which future bust had they fallen in love with? "If they don't give me a good one, I'm like, 'Fuck 'em. Michael Lewis

Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority...[it is] quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders. Michael Lewis