Michael Mauboussin, the chief investment strategist of Legg Mason Capital Management and the author of Think Twice: Harnessing the Power of Counterintuition, about common investment mistakes, how to improve decision-making, and what investors can learn from the recent stock-market woes.

“Everyone has a plan ‘till you get punched in the mouth’”

 Mike Tyson

"You can't shake hands with a clenched fist."

Mahatma Gandhi