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All of us would be better investors if we just made fewer decisions.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Made
Would
Investors
Fewer
Decisions
Decision
Better

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When people think of the outcomes of their decisions, they think much more short term than that. They think in terms of gains and losses.
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Managers think of themselves as captains of a ship on a stormy sea. Risk for them is danger, but they are fighting it, very controlled.
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It is only a slight exaggeration to say that happiness is the experience of spending time with people you love and who love you.
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One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.
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The amount of success it takes for leaders to become overconfident isn't terribly large.
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Divorced women, compared to married women, are less satisfied with their lives, which is not surprising. But they're actually more cheerful, when you look at the average mood they're in in the course of the day.
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By their very nature, heuristic shortcuts will produce biases, and that is true for both humans and artificial intelligence, but the heuristics of AI are not necessarily the human ones.
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There is a huge wave of interest in happiness among researchers. There is a lot of happiness coaching. Everybody would like to make people happier.
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Political columnists and sports pundits are rewarded for being overconfident.
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Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long that means that, you know, in a life there are about 600 million of them in a month, there are about 600,000 - most of them don't leave a trace.
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Slow thinking has the feeling of something you do. It's deliberate.
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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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I'm not a great believer in self-help.
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It was always assumed I would be a professor. I grew up thinking it.
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Through some combination of culture and biology, our minds are intuitively receptive to religion.
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It's nonsense to say money doesn't buy happiness, but people exaggerate the extent to which more money can buy more happiness.
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Except for some effects that I attribute mostly to age, my intuitive thinking is just as prone to overconfidence, extreme predictions, and the planning fallacy as it was before I made a study of these issues.
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I used to hold a unitary view, in which I proposed that only experienced happiness matters, and that life satisfaction is a fallible estimate of true happiness.
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The brain scientists are the wave of the future in the financial world. If you seek to maximize understanding, whether you're in academia or in the investment community, you'd better pay serious attention to them.
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Adaptation seems to be, to a substantial extent, a process of reallocating your attention.
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