10 BEST IDEAS | Thinking Fast And Slow | Daniel Kahneman | Book Summary

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Can you trust your intuition? What are the cognitive biases that control our thought process and our life: discovering it in this week’s book review “THINKING FAST AND SLOW”.

Thinking Fast and Slow is an awesome book by Daniel Kahnerman. This book summary and book review of “Thinking Fast and Slow” will go over the BEST 10 IDEAS from Daniel Kahnerman’s book. You might also consider getting the full book or audiobook for this – it’s great.

11 Questions That May Change Your Life: www.clarkdanger.com/download/
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MASTER JOURNALING: www.mybestjournal.com

★★★ BIG 10 IDEAS ★★★

1. TWO SYSTEMS
FAST: Intuitive / quick / emotional – Fight or Flight – that part is still hardwired into us. Can’t escape it. SLOW: slower / logical / deliberate. Why this matters? We think of ourselves as rational in decision making, DK unpacks cognitive biases that really control us and hijack our fast system. Next part of this video going to focus on second half of book. Cognitive Biases that system one FAST system uses.

2. AVAILABILITY
Make judgements on how likely event will happen based on how easy it is to think of an example. Availability doesn’t equate to truth.

3. PEAK END RULE
We don’t remember entire experience. Our brain can’t store entire experience, it summarizes it into three parts: Beginning, Middle, End. EX: relationship – weren’t that bad… just complete opposite of you and fought every other day! EX: diet made you lost 20lbs – but only eat 1 x day and starving! EX: back in college days – but freaking out inside about debt and life choices! See whole picture – put in perspective before we reminisce about grass being greener. Don’t such your happiness away today because of misconstrued incomplete vision of yesterday.

4. ENDOWMENT EFFECT
We think an object we own or use is more valuable that its actually worth. EX: selectiveness being a buyer vs seller. Application: Why it’s hard to be objective on ourselves. We are too close to us – too endowed with us, need outside perspective sometimes. Close friend? Coach? Journal questions?

5. FRAMING
How a problem is framed determines our choices more than we think. EX: As organ donors to opt-out = much more organ donors than opt-in. (Opt-out is a bad person, we don’t want to feel that way) EX: Would you want a surgery with 90% survival rate – or one with 10% mortality rate? Most people said they would do number one but not number two… despite the odds being the same.

6. LOSS AVERSION
We will work harder not to lose something, than we will to gain something. We dislike losing more than we enjoy winning. EX: Golf – way more likely to putt for par and stay away from bogie (one over par) than go for birdie (one under par). Why change is hard! Easier to stay in job that’s secure than risk it and potentially “lose” our security.

7. ANCHORING
Always ask, “compared to what?” Your salary compared to top 1% USA – you make nothing. If you make over $34,000 USD you’re in the top global 1%.

8. SUNK COSTS
Know when to hold em’ know when to fold em’. Fear of if we quit – everything wasted! Paradox of Choice

9. SLOW DOWN
We can’t tap into our slow form of thinking if we’re constantly in fast thinking. We need to find ways to slow down. HOW TO SLOW: 1. Meditation mindfulness 2. No email first hour of day / last hour at night. 3. FULL day off per week. 4. JOURNAL more.

10. INVEST IN YOURSELF
Journaling is the Number one thing you can do to change your life.
1. Keep a log you can look back on years down road
2. Coach Yourself (all these ideas)
3. Develop self awareness invest in you – carry over all areas of your life.
Go to channel – post in comments giving away 2 memberships end of this week! www.mybestjournal.com

Alright OnePercentBetter – That’s it! Thank you to YOU for letting me share with you all – honored to be able to do this. Come over to channel – tinyurl.com/z8efaqx
Or say hey at clark@clarkdanger.com
Look forward to becoming friends!
Stop settling start living.
Clark

Journal course – best way to develop growth mindset.
For more workshops and complete lessons: www.mybestjournal.com
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6 PILLARS OF SELF ESTEEM youtu.be/rh6MflkPPjQ
WAY OF SUPERIOR MAN youtu.be/UOTta-pTgoU
OUTLIERS youtu.be/WwnhjE7WaL8
STEAL LIKE AN ARTIST youtu.be/KipNeh7j60Q
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Please watch: “Porn and Your Brain”
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