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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
Happens
Investors
Going
Investing
Shouldn
Market
Answer
Question
Answers
Delude
Happen
Beating

More quotes by Daniel Kahneman

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The easiest way to increase happiness is to control your use of time.
Daniel Kahneman
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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.
Daniel Kahneman
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You should not take your intuitions at face value.
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Overconfidence is a powerful source of illusions, primarily determined by the quality and coherence of the story that you can construct, not by its validity.
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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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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.
Daniel Kahneman
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After a crisis we tell ourselves we understand why it happened and maintain the illusion that the world is understandable. In fact, we should accept the world is incomprehensible much of the time.
Daniel Kahneman
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The illusion that we understand the past fosters overconfidence in our ability to predict the future.
Daniel Kahneman
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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.
Daniel Kahneman
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Optimistic people play a disproportionate role in shaping our lives. Their decisions make a difference they are inventors, entrepreneurs, political and military leaders - not average people. They got to where they are by seeking challenges and taking risks.
Daniel Kahneman
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We're generally overconfident in our opinions and our impressions and judgments.
Daniel Kahneman
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We have no reason to expect the quality of intuition to improve with the importance of the problem. Perhaps the contrary: high-stake problems are likely to involve powerful emotions and strong impulses to action.
Daniel Kahneman
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A large portion of the weekend effects is explained by differences in the amount of time spent with friends or family between weekends and weekdays.
Daniel Kahneman
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Most people are highly optimistic most of the time.
Daniel Kahneman
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Optimism is normal, but some fortunate people are more optimistic than the rest of us. If you are genetically endowed with an optimistic bias, you hardly need to be told that you are a lucky person - you already feel fortunate.
Daniel Kahneman
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People are really happier with friends than they are with their families or their spouse or their child.
Daniel Kahneman
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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.
Daniel Kahneman
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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.
Daniel Kahneman
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Political columnists and sports pundits are rewarded for being overconfident.
Daniel Kahneman
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I'm not a great believer in self-help.
Daniel Kahneman