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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
Better
Made
Would
Investors
Fewer
Decisions
Decision

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True intuitive expertise is learned from prolonged experience with good feedback on mistakes.
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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.
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A person who has not made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.
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Optimism is normal, but some fortunate people are more optimistic than the rest of us. If you are genetically endowed with an optimistic bias, you hardly need to be told that you are a lucky person - you already feel fortunate.
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The confidence people have in their beliefs is not a measure of the quality of evidence but of the coherence of the story the mind has managed to construct.
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People who are cognitively busy are also more likely to make selfish choices, use sexist language, and make superficial judgments in social situations.
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People are very good [at] thinking about agents. The mind is set really beautifully to think about agents. Agents have traits. Agents have behaviors. We understand agents. We form global impression of their personalities. We are really not very good at remembering sentences where the subject of the sentence is an abstract notion.
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People talk of the new economy and of reinventing themselves in the workplace, and in that sense most of us are less secure.
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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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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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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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I enjoy being active, but I look forward to the day when I can retire to the Internet.
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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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This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.
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Each additional day together is a gift. The end of the day means the end of hostilities, the recognition that the underlying shared values and commitment to the relationship trump the need for one last dig or self-righteous justification.
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A general limitation of the human mind is its imperfect ability to reconstruct past states of knowledge, or beliefs that have changed. Once you adopt a new view of the world (or any part of it), you immediately lose much of your ability to recall what you used to believe before your mind changed.
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