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Thinking Fast and Slow
Started:April 11th, 2015 (11:59 PM) by rahulgopi Views / Replies:288 / 2
Last Reply:April 12th, 2015 (08:35 AM) Attachments:0

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Thinking Fast and Slow

Old April 11th, 2015, 11:59 PM   #1 (permalink)
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Thinking Fast and Slow

This is an interesting read to draw awareness into the flaws of our thinking system. How we form biases while drawing conclusions and how most of the time it is flawed and not statistically sound. Intuition as per Daniel Kahneman is a bye-product of practice and experience. Experience draws statistically sound conclusion while a novice may draw biased and flawed conclusion given the same problem / situation. Very apt reading for traders, even thou bit long .

which line is longer ?

A bat and ball together cost $1.20. Bat is $1 more than the ball. How much does each one cost ?

Observe the first answer that comes to your mind, the fast one

Last edited by rahulgopi; April 12th, 2015 at 10:05 AM.
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Old April 11th, 2015, 11:59 PM   #2 (permalink)
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Old April 12th, 2015, 08:35 AM   #3 (permalink)
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I have this book and is very interesting, Kahneman done a real good work in economical psychology, especially concerning human judgment and decision theory in conditions of uncertaint, for which he won a nobel prize.

Take your Pips, go out and Live.

Last edited by LukeGeniol; April 12th, 2015 at 08:51 AM.
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