Daniel Kahneman

“Just knowing about a bias doesn't change human behavior.”

“Kahneman directly talks, for example, about earnings forecasts. He says, look, there's a huge amount of work done in earnings forecasts. Nobody can forecast earnings. People keep trying.”

“The thing that Daniel Kahneman taught me about this was nobody argues with rules, but if you're making a decision, people will argue with you.”

“Loss aversion is not wanting to start things for fear of the losses you might incur later. So let's think about loss aversion as something that stops you from starting. Sure loss aversion, as Kahneman says, talks about, is not wanting to turn a loss on paper i…”