What Daniel Kahneman Thinks Investors Should Know
Daniel Kahneman gives a great breakdown of 6 cognitive biases and illusions that affect both our everyday lives and our investing success.
Read MoreManaging money well is not so much about how much we know, but more about how we behave. Learning about the psychology of money can provide you with valuable insights into your behavior around finances. Understanding and modifying those behaviors can help you set yourself on a path of financial success.
Daniel Kahneman gives a great breakdown of 6 cognitive biases and illusions that affect both our everyday lives and our investing success.
Read MoreL:ogical fallacies are reasoning errors that weaken your argument. Learn what fallacies are and how understanding them can benefit you.
Behavioral finance books help understand the impact of psychology on financial decisions. Check out the top titles.
A false dilemma occurs when a limited number of choices, outcomes, or views are presented as the only possibilities.
Ad hominem fallacy is based on personal and irrelevant attacks against the source of an argument instead of addressing the argument itself.
Tu quoque fallacy occurs when someone's argument is discredited solely based on the allegation that their past actions or words are not consistent with their views.
The loaded question fallacy is a question containing an implicit assumption - that is unverified or controversial.
Circular reasoning is a logical fallacy in which a person attempts to prove something using circular logic.
Sunk cost fallacy is a cognitive bias that causes people to include non-recoverable past costs in their decision-making process.
Anchoring is a cognitive bias that describes the human tendency to overly rely on the first piece of information we find or is offered to us.
Loss aversion is a cognitive bias, or a systematic pattern of thinking, that refers to our natural inclination to focus on setbacks more than progress.
The Dunning-Kruger effect is a bias whereby people with low ability in a certain area tend to overestimate their capability in that area.
Even though both fallacies and biases are very different from each other, they are both typically concerned with the same issues - errors in reasoning.
The red herring is an attempt to divert the attention away from the relevant issue by introducing another irrelevant issue.
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