Unfortunately, skill in evaluating the business prospects of a firm is not sufficient for successful stock trading, where the key question is whether the information about the firm is already incorporated in the price of the stock. Traders apparently lackthe skill to answer this crucial question, but they appear to be ignorant of their ignorance.

Thinking, Fast and Slow (ed. Farrar, Straus and Giroux, 2011) - ISBN: 9781429969352