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Money does not buy you happiness, but lack of money certainly buys you misery.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Misery
Lack
Certainly
Happiness
Money
Doe
Buys

More quotes by Daniel Kahneman

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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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The most effortful forms of slow thinking are those that require you to think fast.
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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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Many people will admit that they made a mistake [putting money in dot-coms or telecoms at their peak] But that doesn’t mean that they’ve changed their mind about anything in particular. It doesn’t mean that they are now able to avoid that mistake.
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I'm not a great believer in self-help.
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There are some conditions where you have to trust your intuition.
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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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The illusion that we understand the past fosters overconfidence in our ability to predict the future.
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If people can construct a simple and coherent story, they will feel confident regardless of how well grounded it is in reality.
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Most successful pundits are selected for being opinionated, because it's interesting, and the penalties for incorrect predictions are negligible. You can make predictions, and a year later people won't remember them.
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My interest in well-being evolved from my interest in decision making - from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy.
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An individual who expresses high confidence probably has a good story, which may or may not be true.
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There are domains in which expertise is not possible. Stock picking is a good example. And in long-term political strategic forecasting, it's been shown that experts are just not better than a dice-throwing monkey.
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The evidence is unequivocal, there's a great deal more luck than skill in people getting very rich.
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I have always emphasized the willingness to discard.
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Some memories come with a very compelling sense of truth about them. And that happens to be the case even with memories that are not true.
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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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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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Political columnists and sports pundits are rewarded for being overconfident.
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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.
Daniel Kahneman