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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.
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
Likely
Would
Otherwise
Accept
Loss
Accepting
Gambles
Peace
Unacceptable
Persons
Losses
Person
Gamble
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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
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When people believe a conclusion is true, they are also very likely to believe arguments that appear to support it, even when these arguments are unsound.
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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.
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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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In a rising market, enough of your bad ideas will pay off so that you'll never learn that you should have fewer ideas.
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Acquisition of skills requires a regular environment, an adequate opportunity to practice, and rapid and unequivocal feedback about the correctness of thoughts and actions.
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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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We associate leadership with decisiveness. That perception of leadership pushes people to make decisions fairly quickly, lest they be seen as dithering and indecisive.
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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 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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When you look at the books about well-being, you see one word - it's happiness. People do not distinguish.
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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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The premise of this book is that it is easier to recognize other people's mistakes than your own.
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Individual investors predictably flock to stocks in companies that are in the news.
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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 amount of success it takes for leaders to become overconfident isn't terribly large.
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