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Use System 2
Our poor decision-making is tied to our thinking.
Investors use System 2, the more deliberative, rational way when making buying decisions. And they use System 1 the automatic, instinctual way when making selling decisions.
When investors thought more deliberately about selling the stock, their decisions improved.
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MORE IDEAS ON THIS
Monkey randomly throwing darts are better stock sellers.
New research revealed that the biggest investors in the world don't make the best decisions when selling stocks.
This came to light when an investor's stock selling decision was compared to a strategy which is almost like throwing a dart at a list of names that exist in the...
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654 reads
CURATED FROM
IDEAS CURATED BY
Generalist. Great minds discuss ideas, average minds discuss events, small minds discuss people.
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Other curated ideas on this topic:
When to rely on your gut and when to use rational thought
- We rely on intuition when we make decisions without active reasoning. 90% of critical decisions are made using our intuition.
- When we rely on logic, objectivity, and analysis, we depend on rational decision making.
It is advan...
How to Use System 1 and System 2 Thinking Together
If you feel a gut reaction after meeting a hire, it's probably System 1 thinking.
But you can mitigate the risk of hiring the wrong person by engaging System 2 thinking. Check their references. Ask probing questions. Validate your gut reaction with other members of your tea...
Quell the rebellion against your inner tyrant
According to psychologist Daniel Kahneman, we have two brain systems: System 1 is our automatic, reactive brain. System 2 is our metacognitive brain that we use to reason, analyze and manage our decision. The trick is to ...
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