"2. We display behavioral biases and make apparently sub-optimal decisions, but we can learn from past experience and revise our heuristics in response to negative feedback.

"3. We have the capacity for abstract thinking, specifically forward-looking what- if analysis; predictions about the future based on past experience; and preparation for changes in our environment. This is evolution at the speed of thought, which is different from but related to biological evolution.

"4. Financial market dynamics are driven by our interactions as we behave, learn, and adapt to each other, and to the social, cultural, political, economic, and natural environments in which we live.

"5. Survival is the ultimate force driving competition, innovation, and adaptation.

"These principles lead to a very different conclusion than either the rationalists or the behavioralists have advocated." -- End of extended introductory excerpt.