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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.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Shouldn
Market
Answer
Question
Answers
Delude
Happen
Beating
Happens
Investors
Going
Investing

More quotes by Daniel Kahneman

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If individuals are rational, there is no need to protect them against their own choices.
Daniel Kahneman
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When everybody in a group is susceptible to similar biases, groups are inferior to individuals, because groups tend to be more extreme than individuals.
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So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to.
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The concept of loss aversion is certainly the most significant contribution of psychology to behavioral economics.
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An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can't easily recognize that they are the same.
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People are very good [at] thinking about agents. The mind is set really beautifully to think about agents. Agents have traits. Agents have behaviors. We understand agents. We form global impression of their personalities. We are really not very good at remembering sentences where the subject of the sentence is an abstract notion.
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... sometimes when you are asked a question that is difficult, the mind doesn't stay silent if it doesn't have the answer. The mind produces something, and what it produces very characteristically is the answer to an easier but related question.
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Each additional day together is a gift. The end of the day means the end of hostilities, the recognition that the underlying shared values and commitment to the relationship trump the need for one last dig or self-righteous justification.
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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'm not a great believer in self-help.
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Groups tend to be more extreme than individuals.
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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.
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Employers who violate rules of fairness are punished by reduced productivity, and merchants who follow unfair pricing policies can expect to lose sales.
Daniel Kahneman
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If you can't take the time for a vacation right now, or even a night out with friends, put something on the calendar - even if it's a month or a year down the road. Then whenever you need a boost of happiness, remind yourself about it.
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I enjoy being active, but I look forward to the day when I can retire to the Internet.
Daniel Kahneman
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This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.
Daniel Kahneman
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We are far too willing to reject the belief that much of what we see in life is random.
Daniel Kahneman
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Often, the most enjoyable part of an activity is the anticipation.
Daniel Kahneman
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Most things that couples disagree upon aren't worth more than a day's combat.
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Hindsight bias makes surprises vanish.
Daniel Kahneman