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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
Peace
Unacceptable
Persons
Losses
Person
Gamble
Made
Likely
Would
Otherwise
Accept
Loss
Accepting
Gambles

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Psychologists really aim to be scientists, white-coat stuff, with elaborate statistics, running experiments.
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The easiest way to increase happiness is to control your use of time.
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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.
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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.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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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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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 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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Individual investors predictably flock to stocks in companies that are in the news.
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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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When action is needed, optimism, even of the mildly delusional variety, may be a good thing.
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