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Wednesday, July 24, 2013

CFOs Thinking Fast

Brought to my attention by a collaborator.  I am a believer in quantitative analytic thinking and a critic of intuitive flash thinking, so obviously agree to these cautions,  In the WSJ: 

" When CFOs Think Fast ……They may get the company into a lot of trouble. Here's where they go astray—and how to avoid it. ... Daniel Kahneman, in his best-selling book, "Thinking, Fast and Slow," says there are basically two modes of thinking. Fast and slow. Fast thinking is intuitive, he says. It arises from experience and broad unconscious associations between ideas. Slow thinking, in contrast, relies on reason, analysis and deliberation. Both have their time and place. But the psychology professor and Nobel laureate in economics warns about the risks of too much fast thinking when thinking slowly would lead us to better decisions.... "

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