Schaffner Group AG (ISIN CH0009062099) – Is this “Meier & Tobler 2.0” ?. “Freedom Insulation” – Follow up and Basket Update (Sto, Steico). Join 3,270 other subscribers Recent Posts I think this was my first Michael Lewis book where I seriously thought about not finishing it.Īll in all I would say it is an OK book for people who like those kind of biographic books, however for people interested in the theory and topic itself, Kahneman’s book “Thinking Fast and Slow” in my opinion is the much better choice. Towards the end I really had to force myself to finish the book when Lewis describes in great detail how they tried more or less successfully to counter their critics. It is an interesting story, no doubt, but I guess a few pages less would have made the book better. T o be honest, I found this a little too much detail. The book describes in very great detail how the relationship between Tversky and Kahneman developed, how it was interrupted by the different Israeli wars, how they moved from Israel to the US and how it ended. The book covers the story of this “unlikely” pair of academics who started this revolution plus some side stories about people who were greatly influenced by them, for instance in Basketball and Medicine. As stock investors we all know that human behaviour in the stock market is anything but rational, however only following the groundbreaking work of those two guys, we now have a more structured way to understand how the mind really works. 
Up until Prospect Theory, the human mind was assumed to be perfectly rational for most theories dealing with human behaviour and decision-making.
And for which Kahneman got the Nobel Prize in 2002 (Tversky unfortunately died some years before that). “The Undoing Project” is the story of Amos Tversky and Daniel Kahneman, two Israeli professors who developed the so-called “Prospect Theory” which deals with the behavioural “biases” that the human mind shows when deciding under uncertainty. His books are usually great to read, very well researched and a few of them have already turned into movies like “The Big Short”. Michael Lewis is clearly “THE” author for financial books at the moment.
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