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— Richard Thaler"The assumption that everybody will figure out how much they have to save and then will just implement that plan is obviously preposterous."
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As you get older, the assumption is you get wiser. I try to earn it by not staying still, not resting on laurels. A lot of people in other professions are retired at my age. I care about music more than ever.
— Lorin Maazel
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I have a name for people who went to the extreme efficient market theory-which is "bonkers". It was an intellectually consistent theory that enabled them to do pretty mathematics. So I understand its seductiveness to people with large mathematical gifts. It just had a difficulty in that the fundamental assumption did not tie properly to reality.
— Charlie Munger
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