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The premise of this book is that it is easier to recognize other people's mistakes than your own.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Easier
Mistake
Book
People
Premise
Premises
Investing
Recognize
Mistakes

More quotes by Daniel Kahneman

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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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We're generally overconfident in our opinions and our impressions and judgments.
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Intelligence is not only the ability to reason it is also the ability to find relevant material in memory and to deploy attention when needed.
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The illusion that we understand the past fosters overconfidence in our ability to predict the future.
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We can be blind to the obvious, and we are also blind to our blindness.
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It doesn't take many observations to think you've spotted a trend, and it's probably not a trend at all.
Daniel Kahneman
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The effort invested in 'getting it right' should be commensurate with the importance of the decision.
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People are really happier with friends than they are with their families or their spouse or their child.
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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 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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The most effortful forms of slow thinking are those that require you to think fast.
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Groups tend to be more extreme than individuals.
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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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Our memory tells us stories, that is, what we get to keep from our experiences is a story.
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Money does not buy you happiness, but lack of money certainly buys you misery.
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Experienced happiness refers to your feelings, to how happy you are as you live your life. In contrast, the satisfaction of the remembering self refers to your feelings when you think about your life.
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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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Managers think of themselves as captains of a ship on a stormy sea. Risk for them is danger, but they are fighting it, very controlled.
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It's clear that policymakers and economists are going to be interested in the measurement of well-being primarily as it correlates with health they also want to know whether researchers can validate subjective responses with physiological indices.
Daniel Kahneman
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There are some conditions where you have to trust your intuition.
Daniel Kahneman