In conclusion, the diagnosis of conduct disorder encompasses at least two subgroups: one group exhibits callous–unemotional traits, which are associated with an increased risk of persistent antisocial behavior; the other group shows heightened threat sensitivity and reactive aggression. Both groups have perturbations in neural systems that are critical for decision making. Conduct disorder with callous–unemotional traits appears to be more difficult to treat, and advances in our understanding of the pathophysiology of this type of conduct disorder may aid in the search for new treatments.