It’s hard to be happy playing poker because the losses hurt much more than the happiness you gain from winning. Instead, focus on the process.

There’s this huge asymmetry between how sad people are when they lose versus how happy they are when they win. It’s one of those things that, unless you’re really focused on the process. This is a lesson for all of life, the way to happiness is to focus on the process.

Be aware of the self-serving bias: We tend to attribute good things to our own skill, and we tend to attribute bad things that happen to us to luck.

People will hedge against disaster with fire insurance but are less likely to hedge against their marriage with a prenup (only about 5% of married couples have a prenup).

We have this idea that if we do hedge against something, somehow if the bad thing happens, we caused it. And this is pa...