#Daniel Kahneman

Source: Farnam Street Probabilistic thinking is essentially trying to estimate, using some tools of math and logic, the likelihood of any specific outcome coming to pass. It is one of the best tools we have to improve the accuracy of our decisions. In a world where each moment is determined by an

Source: Farnam Street Probabilistic thinking is essentially trying to estimate, using some tools of math and logic, the likelihood of any specific outcome coming to pass. It is one of the best tools we have to improve the accuracy of our decisions. In a world where each moment is determined by an

Author: Matt Bell / Source: Wise Bread If you pay close attention to investment news, it’ll either make you laugh or it’ll drive you bonkers. Within the same hour, and on the same market news website, you will often see completely contradictory articles. One says the market is headed higher; the

Submitted by Jim Quinn via The Burning Platform blog, “The idea that the future is unpredictable is undermined every day by the ease with which the past is explained.” – Daniel Kahneman, Thinking, Fast and Slow   A couple weeks ago I was lucky enough to see a live one hour interview with Michael

Let’s face it: most of us suck at managing money. According to a National Bureau of Economics working paper published this March, roughly three quarters of all American households carry some form of debt. 40% haven’t paid off their credit cards. Nearly half have no savings at all. And the US isn’t