Jennifer Baez

I love Voltaire’s observation that “History never repeats itself; man always does.” It applies so well to how we behave with money.

If you grew up when inflation was high, you invested less of your money in bonds later in life compared to those who grew up when inflation was low. If you happened to grow up when the stock market was strong, you

By delaying the task of fleshing out and firming up the speech, King allowed Jones to benefit from the Zeigarnik effect. In 1927, Russian psychologist Bluma Zeigarnik demonstrated that people have a better memory for incomplete than complete tasks. (Page 99)

A system is an interconnected set of elements that is coherently organized in a way that achieves something. If you look at that definition closely for a minute, you can see that a system must consist of three kinds of things: elements, interconnections, and a function or purpose 

Psychology research is clear that the most reliable way to overcome psychological pain and discomfort is not to avoid it; it’s to gradually dimish the effects of discomfort by systematic exposure. “Avoiding triggers is a symptom of PTSD, not a treatment for it,” write Haidt and Lukianoff.

In other words, the more you face cognitive friction, the

The hardest financial skill is getting the goalpost to stop moving.

But it’s one of the most important. If expectations rise with results there is no logic in striving for more because you’ll feel the same after putting in extra effort.

Modern capitalism is a pro at two things: generating wealth and generating envy. Perhaps they go hand in hand;

“Healing is a daily event. You can’t “go somewhere” to be healed; you must go inward to be healed. This means a daily commitment to doing the work.”

Fifteen billion people were born in the 19th and 20th centuries. But try to imagine how different the global economy—and the whole world—would be today if just seven of them never existed:

Adolf Hitler

Joseph Stalin

Mao Zedong

Gavrilo Princip

Thomas Edison

Bill Gates

Martin Luther King

Another way to put this is that 0.00000000004% of people were

When we bemoan the lack of originality in the world, we blame it on the absence of creativity. If only people could generate more novel ideas, we'd all be better off. But in reality, the biggest barrier to originality is not idea generation-it's idea selection. In one analysis, when over two hundred people dreamed up more than a thousand ideas for

A system is a set of things-people, cells, molecules, or whatever-interconnected in such a way that they produce their own pattern of behavior over time