450 Quotes by Daniel Kahneman

The average investor’s return is significantly lower than market indices due primarily to market timing.

It’s a wonderful thing to be optimistic. It keeps you healthy and it keeps you resilient.

The experiments showed further that the mean filial regression towards mediocrity was directly proportional to the parental deviation from it.

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.

You just like winning and dislike losing – and you almost certainly dislike losing more than you like winning.

How many animals of each kind did Moses take into the ark?

A reliable way of making people believe in falsehoods is frequent repetition, because familiarity is not easily distinguished from truth.

Risk” does not exist “out there,” independent of our minds and culture, waiting to be measured. Human beings have invented the concept of “risk” to help them understand and cope with the dangers and uncertainties of life. Although these dangers are real, there is no such thing as “real risk” or “objective risk.

Organizations that take the word of overconfident experts can expect costly consequences.