It's Not Rocket Science, summarized below
This section is about risk. Bradley argues that risk and volatility are not one in the same, particularly over long periods. While volatility over the short-term can be hard for people to stomach, it can actually provide opportunities to buy at good prices. In the long-term, volatility often pays off in the form of higher returns.
Bradley also argues against the so-called "lower risk" attributes of securities with principal protection. While such securities may offer lower downside risk in the short-term, the cost of these over the long-term is too high. Over many years, the downside risk of equities is also low, but equities have far more upside. When looked at in this manner, the downside protection of securities with principal protection comes at a potentially high cost over the long term.
One risk that is not emphasized enough, in Bradley's opinion, is the risk of paying too much. Investors fret about equity risk and credit risk, but should focus more on whether they are getting a fair price.