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Quote by Bruce Berkowitz

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Bruce Berkowitz
Bruce Berkowitz

Bruce Berkowitz, born in 1961, is a prominent figure in the financial industry. Limited information is available regarding his life and achievements. more

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“My father, Benjamin Shiller, told me not to believe in authorities or celebrities - that society tends to imagine them as superhuman. It's good advice. People are snowed by celebrities all the time. In academia people have this idea of achieving stardom - publishing in the best journals, being at the best university, writing on the hot topic everyone else is writing about. But that's what my father told me not to do. He taught me that you have to pursue things that sound right to you.”

PeopleWritingBelieveIdeasFatherSoundImagineAchieveAdviceTaughtAuthorityHotUniversityPursuePublishingJournalTopicsGood AdviceAcademiaSuperhumanStardomHot Topic
Author:Robert J. Shiller
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“We were required to predict a soldier's performance in officer training and in combat, but we did so by evaluating his behavior over one hour in an artificial situation. This was a perfect instance of a general rule that I call WYSIATI, "What you see is all there is." We had made up a story from the little we knew but had no way to allow for what we did not know about the individual's future, which was almost everything that would actually matter. When you know as little as we did, you should not make extreme predictions like "He will be a star."”

KnowsWayShouldLittlesMadeMatterStoriesIndividualStarsHoursPerfectSituationBehaviorTrainingPerformancesSoldierExtremesInstanceCombatOfficersArtificialPredictionsOne Hour
Author:Daniel Kahneman
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“To know whether you can trust a particular intuitive judgment, there are two questions you should ask: Is the environment in which the judgment is made sufficiently regular to enable predictions from the available evidence? The answer is yes for diagnosticians, no for stock pickers. Do the professionals have an adequate opportunity to learn the cues and the regularities? The answer here depends on the professionals' experience and on the quality and speed with which they discover their mistakes.”

KnowsShouldMadeTwoAsksOpportunityAnswersMistakeQualityEnvironmentParticularDependsJudgmentEvidenceAvailableSpeedPredictionsIntuitiveAdequateRegularityOpportunities To Learn
Author:Daniel Kahneman
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