Atrial fibrillation is an increasingly common arrhythmia associated with substantial but largely preventable risk of ischemic stroke. There has been an exponential increase in research related to atrial fibrillation in recent years, resulting in some major advances in the therapeutic management. Novel oral anticoagulant agents have become available and require thorough assessment of risk-to-benefit ratio. While the knowledge is rapidly accumulating, the basic principles of atrial fibrillation management remain proper recognition, risk stratification, and appropriate prevention of thromboembolic complications. This review highlights some common misconceptions about atrial fibrillation.