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World Economic Forum
Princeton psychology professor Daniel Kahneman, was speaking about the latest findings in behavioural finance. That's the emerging study of non-rational and imperfect behaviour in markets. ... It's apparently well established now that the cost of "having an idea" (something that motivates you to buy or sell) is 3.5%. In other words, it doesn't pay -- on average -- to have ideas. ... his findings on people's attitudes towards risk. According to Kahneman, "People take risks because they don't know the risks they are taking." [Davos Newbies, 2-2-02]
1:14:48 PM 
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