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It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.
Daniel Kahneman
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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Trends
Observation
Probably
Doesn
Take
Many
Spotted
Think
Observations
Thinking
Trend
More quotes by Daniel Kahneman
If owning stocks is a long-term project for you, following their changes constantly is a very, very bad idea. It's the worst possible thing you can do, because people are so sensitive to short-term losses. If you count your money every day, you'll be miserable.
Daniel Kahneman
People should be conscious of the large contribution made by anything that gets people together easily in the reduction of loneliness and emotional well-being.
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People have little idea, by and large, of the investment world. They are convinced they have an advantage.
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The illusion that we understand the past fosters overconfidence in our ability to predict the future.
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If you're going to be unreligious, it's likely going to be due to reflecting on it and finding some things that are hard to believe.
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If individuals are rational, there is no need to protect them against their own choices.
Daniel Kahneman
Question: So investors shouldn't delude themselves about beating the market? Answer: They're just not going to do it. It's just not going to happen.
Daniel Kahneman
We can be blind to the obvious, and we are also blind to our blindness.
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Friends are sometimes a big help when they share your feelings. In the context of decisions, the friends who will serve you best are those who understand your feelings but are not overly impressed by them.
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Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.
Daniel Kahneman
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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Overconfidence is a powerful source of illusions, primarily determined by the quality and coherence of the story that you can construct, not by its validity.
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Political columnists and sports pundits are rewarded for being overconfident.
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People exaggerate their confidence in their plans - something we call the planning fallacy... The existence of the plan tends to induce overconfidence.
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Poverty is clearly one source of emotional suffering, but there are others, like loneliness. A policy to reduce the loneliness of the elderly would certainly reduce suffering.
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Laziness is built deep into our nature.
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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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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.
Daniel Kahneman
We are far too willing to reject the belief that much of what we see in life is random.
Daniel Kahneman
Researchers who studied a thousand Dutch vacationers concluded that by far the greatest amount of happiness extracted from the vacation is derived from the anticipation period.
Daniel Kahneman
