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When action is needed, optimism, even of the mildly delusional variety, may be a good thing.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Optimism
Variety
Needed
Action
May
Even
Thing
Mildly
Good
Delusional

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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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Divorced women, compared to married women, are less satisfied with their lives, which is not surprising. But they're actually more cheerful, when you look at the average mood they're in in the course of the day.
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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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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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You should not take your intuitions at face value.
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One thing we have lost, that we had in the past, is a sense of progress, that things are getting better. There is a sense of volatility, but not of progress.
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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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We can't live in a state of perpetual doubt, so we make up the best story possible and we live as if the story were true.
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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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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 the consistency of the information that matters for a good story, not its completeness. Indeed, you will often find that knowing little makes it easier to fit everything you know into a coherent pattern.
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I would not advise people to buy a car or house without making a list. You will probably improve your intuitions by making a list and then sleeping on it.
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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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Often, the most enjoyable part of an activity is the anticipation.
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Through some combination of culture and biology, our minds are intuitively receptive to religion.
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There's a very good reason for why economics developed the way it did, and that is that in many situations, the assumption that people will exploit the opportunities available to them is very plausible, and it simplifies the analysis of how markets will behave.
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Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long that means that, you know, in a life there are about 600 million of them in a month, there are about 600,000 - most of them don't leave a trace.
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