Posted 4 years ago on Oct. 23, 2011, 7:37 p.m. EST by slewis
This content is user submitted and not an official statement
Some folks might be interested in the points about hazards of confidence in Dan Kahneman's NY times magazine book excerpt:
Note that a number of discussions around 1% pay revolve around attracting 'talent' to financial services...as if what they did had anything to do with their 'success' or 'failure'. From data and research, Kahneman shows that success in financial services has almost nothing to do with 'skill' or 'talent', and is essentially luck. People should know this about Wall Street, because they typically are very confident in their belief that they deserve to be rewarded obscenely. Kahneman shows that's not true.