Daniel Kahneman on Intuition and the Outside View

Michael Mauboussin: When does intuition work or fail? Daniel Kahneman: Intuition works less often than we think. There is no such thing as professional “expertise.” The Intuitions in chess masters develop with “big data” comes from experience. For people, the immediacy of feedback is especially important to learn the basis of expertise. When feedback comes…

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Why You Should Teach Your Children The Right Money Script.

What if the rich get richer because they know how to invest their money more effectively? New research shows that this may be a factor behind the rise in inequality.  Different investors have different levels of sophistication. Why?  It might come from varying levels of education. For example, I know what diversification is, and why…

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“the self” isn’t constant, but ever-changing

While you may not remember life as a toddler, you most likely believe that your selfhood then—your essential being—was intrinsically the same as it is today.  Buddhists, though, suggest that this is just an illusion—a philosophy that’s increasingly supported by scientific research.  “Buddhists argue that nothing is constant, everything changes through time, you have a…

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