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Daniel Kahneman Quotes: The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.
         

The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.


Daniel Kahneman
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Other quotes of Daniel Kahneman


The confidence people have in their beliefs is not a measure of the quality of evidence but of the coherence of the story the mind has managed to construct.

The confidence people have in their beliefs is not a measure of the quality of evidence but of the coherence of the story the mind has managed to construct.



We can be blind to the obvious, and we are also blind to our blindness.

We can be blind to the obvious, and we are also blind to our blindness.



Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.

Odd as it may seem, I am my remembering self, and the experiencing self, who does my living, is like a stranger to me.



Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.

Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance.



This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.

This is the essence of intuitive heuristics: when faced with a difficult question, we often answer an easier one instead, usually without noticing the substitution.



The idea that the future is unpredictable is undermined every day by the ease with which the past is explained.

The idea that the future is unpredictable is undermined every day by the ease with which the past is explained.



Many ideas happen to us. We have intuition, we have feeling, we have emotion, all of that happens, we don't decide to do it. We don't control it.

Many ideas happen to us. We have intuition, we have feeling, we have emotion, all of that happens, we don't decide to do it. We don't control it.



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.

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.



The illusion that we understand the past fosters overconfidence in our ability to predict the future.

The illusion that we understand the past fosters overconfidence in our ability to predict the future.



We're generally overconfident in our opinions and our impressions and judgments.

We're generally overconfident in our opinions and our impressions and judgments.





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Man boasts of his nobility, his ideals, and his progress. Man’s goal is imitation, not redemption.

Man boasts of his nobility, his ideals, and his progress. Man’s goal is imitation, not redemption.



Every normal family is one tragedy away from complete implosion.

Every normal family is one tragedy away from complete implosion.



I've often wished when I started a book I knew what was going to happen. I talked to writers who write 80-page outlines, and I'm just in awe of that.

I've often wished when I started a book I knew what was going to happen. I talked to writers who write 80-page outlines, and I'm just in awe of that.



Money for me has only one sound: liberty.

Money for me has only one sound: liberty.



I want to think and at the same time that's the last thing in the world I want to do.

I want to think and at the same time that's the last thing in the world I want to do.



The cost of a thing is what I call life which has to be exchanged for it, immediately or in the long run.

The cost of a thing is what I call life which has to be exchanged for it, immediately or in the long run.



And it's difficult for the average American to understand why something like that could be so important and why a little small place like Taiwan would be so important to the PRC

And it's difficult for the average American to understand why something like that could be so important and why a little small place like Taiwan would be so important to the PRC



I like you very much. Just as you are.

I like you very much. Just as you are.



There is a period of tapering when we're not in the gym quite as long to try to save our bodies, but leading up to the competition we try to keep things similar to the rest of the year.

There is a period of tapering when we're not in the gym quite as long to try to save our bodies, but leading up to the competition we try to keep things similar to the rest of the year.




Quote Description


This page presents the quote "The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.". Author of this quote is Daniel Kahneman. This quote is about culture, investment, management, individual, illusion, skills, aberration, industry,.