Kahneman left this world, leaving behind his legacy of insights – that can make you a better investor!
“During World War II, a Jewish child feared being caught out past curfew by a German soldier. Instead, the soldier showed unexpected kindness, giving the child a hug, showing a photo of a kid, and offering him some money. This encounter taught this child that people are complex and interesting”
This child was none other than Kahneman, whose fascination with human behaviour and psychology was sparked by his own experiences.
Almost anyone who has ever heard the word ‘behavioural finance or economics’ might have heard about or read about ‘Daniel Kahneman’, the famous Nobel prize winner for his stupendous work in the space of uncovering cognitive biases of humans among financial decision making.
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Born in 1934 in what was then British Mandatory Palestine, Kahneman's early years were marked by uncertainty and adversity. Amidst the chaos of World War II, Kahneman observed how people's decisions were often driven by emotion rather than logic. Whether it was the panic of fleeing refugees or the desperation of those facing scarcity, he saw firsthand how fear and uncertainty could cloud judgment and lead to irrational choices. These formative experiences planted the seeds for Kahneman's lifelong exploration of the human psyche and its implications for decision-making.
Tragically, Kahneman's recent passing in March 2024 has left a hole in the field, but his legacy lives on in the continued application of his insights to
