Daniel Kahneman: Your Intuition Is Wrong, Unless These 3 Conditions Are Met

Can intuition play a role in investing? According to Daniel Kahneman, a Nobel Memorial Prize-winning behavioral economist, no. During a speech given at the World Business Forum in New York City, Kahneman explained when people can trust their intuitive judgement and when they should be wary of it. “Intuition is defined as knowing without knowing how you know,” he explained. “That’s the wrong definition. Because by that definition, you cannot have the wrong intuition. It presupposes that we know, and there is really a prejudice in favor of intuition. We like intuitions to be right.” ….[READ]