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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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... 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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The illusion that we understand the past fosters overconfidence in our ability to predict the future.
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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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Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don't know the odds. It's a big difference.
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There are some conditions where you have to trust your intuition.
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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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There's a tendency to look at investments in isolation. Investors focus on the risk of individual securities.
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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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Alternative descriptions of the same reality evoke different emotions and different associations.
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We can be blind to the obvious, and we are also blind to our blindness.
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The concept of happiness has to be reorganised.
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The easiest way to increase happiness is to control your use of time.
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People just hate the idea of losing. Any loss, even a small one, is just so terrible to contemplate that they compensate by buying insurance, including totally absurd policies like air travel.
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.
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You should not take your intuitions at face value.
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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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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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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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Our memory tells us stories, that is, what we get to keep from our experiences is a story.
Daniel Kahneman
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People exaggerate their confidence in their plans - something we call the planning fallacy... The existence of the plan tends to induce overconfidence.
Daniel Kahneman