“Studying history makes you feel like you understand something. But until you’ve lived through it and personally felt its consequences, you may not understand it enough to change your behavior.”

只有自己亲历，才会有所改变。

“The economists wrote: “Our findings suggest that individual investors’ willingness to bear risk depends on personal history. Not intelligence, or education, or sophistication. Just the dumb luck of when and where you were born.”

人的风险承受能力和出生成长的时间点和环境非常相关。

“Every decision people make with money is justified by taking the information they have at the moment and plugging it into their unique mental model of how the world works.”

没有人是疯子。即使在别人眼中的疯子，在做出决定是对他自己来说也是符合他的世界观的。

“We live paycheck-to-paycheck and saving seems out of reach. Our prospects for much higher wages seem out of reach. We can’t afford nice vacations, new cars, health insurance, or homes in safe neighborhoods. We can’t put our kids through college without crippling debt. Much of the stuff you people who read finance books either have now, or have a good chance of getting, we don’t. Buying a lottery ticket is the only time in our lives we can hold a tangible dream of getting the good stuff that you already have and take for granted. We are paying for a dream, and you may not understand that because you are already living a dream. That’s why we buy more tickets than you do.”

这段话是解释为什么低收入人群更愿意买彩票的原因，很多家庭可能拿不出400美元应急，但愿意不断的花钱买彩票。