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.
Daniel KahnemanIf people are failing, they look inept. If people are succeeding, they look strong and good and competent. That's the 'halo effect.' Your first impression of a thing sets up your subsequent beliefs. If the company looks inept to you, you may assume everything else they do is inept.
Daniel KahnemanAlthough professionals are able to extract a considerable amount of wealth from amateurs, few stock pickers, if any, have the skill needed to beat the market consistently, year after year.
Daniel KahnemanThe 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.
Daniel KahnemanLucky risk takers use hindsight to reinforce their feeling that their gut is very wise. Hindsight also reinforces others' trust in that individual's gut.
Daniel KahnemanTo know whether you can trust a particular intuitive judgment, there are two questions you should ask: Is the environment in which the judgment is made sufficiently regular to enable predictions from the available evidence? The answer is yes for diagnosticians, no for stock pickers. Do the professionals have an adequate opportunity to learn the cues and the regularities? The answer here depends on the professionals' experience and on the quality and speed with which they discover their mistakes.
Daniel Kahneman