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 dicedomainexpert share on social
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 acceptcrisisfact Change image and share on social
The brains of humans contain a mechanism that is designed to give priority to bad news. Daniel Kahneman badbraindesign Change image and share on social
Yes, there is a burden of financial insecurity. I don't think you find it in mood. Income is correlated with life satisfaction, so maybe you do find it in life satisfaction. You don't find it in mood, and I think it is very important. Daniel Kahneman burdencorrelatefinancial share on social
Hindsight bias makes surprises vanish. Daniel Kahneman biashindsightmake Change image and share on social
If you think in terms of major losses, because losses loom much larger than gains - that's a very well-established finding - you tend to be very risk-averse. When you think in terms of wealth, you tend to be much less risk-averse. Daniel Kahneman averseestablishfind share on social
So your emotional state really has a lot to do with what you're thinking about and what you're paying attention to. Daniel Kahneman attentionemotionallot Change image and share on social
The average investor's return is significantly lower than market indices due primarily to market timing. Daniel Kahneman averagedueindex Change image and share on social
The planning fallacy is that you make a plan, which is usually a best-case scenario. Then you assume that the outcome will follow your plan, even when you should know better. Daniel Kahneman assumecasefallacy Change image and share on social
Psychologists really aim to be scientists, white-coat stuff, with elaborate statistics, running experiments. Daniel Kahneman aimcoatelaborate Change image and share on social
