Human beings cannot comprehend very large or very small numbers. It would be useful for us to acknowledge that fact.
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 KahnemanThe average investor's return is significantly lower than market indices due primarily to market timing.
Daniel Kahneman