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The evidence is unequivocal, there's a great deal more luck than skill in people getting very rich.

Daniel Kahneman

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Daniel Kahneman
Age: 90
Born: 1934
Born: March 5
Economist
Psychologist
University Teacher
Tel Aviv
Israel
D Kahneman
Evidence
Deal
Deals
Rich
Getting
Unequivocal
Great
Skill
People
Luck
Skills

More quotes by Daniel Kahneman

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Individual investors predictably flock to stocks in companies that are in the news.
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By their very nature, heuristic shortcuts will produce biases, and that is true for both humans and artificial intelligence, but the heuristics of AI are not necessarily the human ones.
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I have always emphasized the willingness to discard.
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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.
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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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Slow thinking has the feeling of something you do. It's deliberate.
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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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You should not take your intuitions at face value.
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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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If people can construct a simple and coherent story, they will feel confident regardless of how well grounded it is in reality.
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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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In essence, the optimistic style involves taking credit for successes but little blame for failures.
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The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.
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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.
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If individuals are rational, there is no need to protect them against their own choices.
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The easiest way to increase happiness is to control your use of time.
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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.
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Doubting what you see is a very odd experience. And doubting what you remember is a little less odd than doubting what you see. But it's also a pretty odd experience, because some memories come with a very compelling sense of truth about them, and that happens to be the case even for memories that are not true.
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We are very influenced by completely automatic things that we have no control over, and we don't know we're doing it.
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It was always assumed I would be a professor. I grew up thinking it.
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