The illusion of skill is not only an individual aberration; it is deeply ingrained in the culture of the [investment management] industry.
Daniel KahnemanA 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 KahnemanThere is a huge wave of interest in happiness among researchers. There is a lot of happiness coaching. Everybody would like to make people happier.
Daniel KahnemanPeople's mood is really determined primarily by their genetic make-up and personality, and in the second place by their immediate context, and only in the third and fourth place by worries and concerns and other things like that.
Daniel KahnemanHowever, optimism is highly valued, socially and in the market; people and firms reward the providers of dangerously misleading information more than they reward truth tellers. One of the lessons of the financial crisis that led to the Great Recession is that there are periods in which competition, among experts and among organizations, creates powerful forces that favor a collective blindness to risk and uncertainty.
Daniel Kahneman