Laurence Gonzales's example:
[M]ost people don’t do a good job of distinguishing between luck and skill. If they do something and it works out to their benefit they say, “See how good I am? I’m going to do it again.” … So on Wall Street before the recent recession, traders were rewarded for doing very stupid things. And it was pure luck, it was pure chance of the circumstances that they were rewarded and they did it again and again and again because it rewarded them again, and again. And nobody ever stopped to say, boy this is really stupid, but I think I’ll do it again. The reward made them think it was smart and that they were skilled instead of just being the victims of chance.
The Dish 