James O'Shaughnessy

Historically, we have always seen reversion to the mean. After stocks have had an unusually great 10 or 20 years, they typically turn in subpar results over the next 10 or 20, and after bad 10- to 20-year stretches, the next 10 to 20 tend to be above average.

If we live a self-directed, self-motivated, self-centered life, always needing to get our own way, then we're going to be miserable. In fact, many times we believe it's our problems that are making us unhappy when, in reality, it's because we're focused on ourselves!

I never understood using Kickstarter for commercial purposes. If you want to raise money for commercial purposes, I think you should give someone a dividend. They make money, then you make money. It should be an investment, whereas I think Kickstarter's true purpose is raising money for things that are in and of themselves justifying.