This paper reviews the underlying assumptions and principles of a new psychological paradigm, Psychology of Mind/Health Realization (POM/HR). A core concept of POM/HR, thought recognition, is then compared with locus of control (LOC), a well-known psychological construct. Next, the relationship of LOC to self-reported happiness and satisfaction is examined from the perspective of POM/HR, using a sample of 1,872 at-risk adolescents from 17 nations. The findings support POM/HR predictions that (1) locus of control would account for a slight portion of the variance in adolescent happiness and satisfaction, (2) circumstances that are external in nature would account for additional variance in happiness and satisfaction, and (3) there would be little difference in self-reported happiness and satisfaction between adolescents self-reporting high and low internal LOC. Further, it was conjectured that the adolescents mistook superficial emotions, such as excitement and security, for genuine feelings of well-being. Finally, the implications for prevention and intervention efforts with at-risk adolescents are discussed.