Michael Lewis said this quote

“ 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. ”

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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

After seeing a movie that dramatizes nuclear war, they worried more about nuclear war; indeed, they felt that it was more likely to happen. The sheer volatility of people's judgement of the odds--their sense of the odds could be changed by two hours in a movie theater--told you something about the reliability of the mechanism that judged those odds.

~ 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