When You Look At The

We Are Prone To Overestimate How Much We Understand About The World And To Underestimate The Role Of Chance In Events.

Unfortunately, Skill In Evaluating The Business Prospects Of A Firm Is Not Sufficient For Successful Stock Trading, Where The Key Question Is Whether The Information About The Firm Is Already Incorporated In The Price Of The Stock. Traders Apparently Lackthe Skill To Answer This Crucial Question, But They Appear To Be Ignorant Of Their Ignorance.

Acquisition Of Skills Requires A Regular Environment, An Adequate Opportunity To Practice, And Rapid And Unequivocal Feedback About The Correctness Of Thoughts And Actions.

The Most Effortful Forms Of Slow Thinking Are Those That Require You To Think Fast.

The Idea That You Can Ask One Question And It Makes The Point - Well, That Wasn't How Psychology Was Done At The Time.