--- title: "Meaning & Key Takeaway of: There is general agreement among…" description: "\"There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game of chance..." image: "https://sms4smile.com/quotes/i/429/daniel-kahneman-431_agreement_there-is-general-agreement-among-researc_2628218.jpg" --- # There is general agreement among researchers that nearly… ![“There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game of chance.” quote by Daniel Kahneman](https://sms4smile.com/quotes/i/429/daniel-kahneman-431_agreement_there-is-general-agreement-among-researc_2628218.jpg) [Download](https://sms4smile.com/quotes/i/429/daniel-kahneman-431_agreement_there-is-general-agreement-among-researc_2628218.jpg) [Open image](https://sms4smile.com/quotes/i/429/daniel-kahneman-431_agreement_there-is-general-agreement-among-researc_2628218.jpg) > “There is general agreement among researchers that nearly all stock pickers, whether they know it or not-and few of them do-are playing a game of chance.” [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Most stock pickers unknowingly rely on chance rather than skill, despite believing they have expertise. **In simple terms:** Investors often gamble, thinking they’re strategic. Key Takeaway Recognize the role of randomness in investing. Themes finance uncertainty behavioral economics Mood analytical critical Type educational cautionary When to use this quote - portfolio construction - risk assessment - investment education - financial planning Key Concepts probability cognitive bias market dynamics Questions to Reflect On - Do you evaluate performance against random benchmarks? - How can you mitigate overconfidence in market predictions? A Different Perspective Even skilled analysts can be misled by random patterns. ★ ★ ★ ★ ★ No ratings yet [Agreement](https://sms4smile.com/quotes/about/agreement/) [Chance](https://sms4smile.com/quotes/about/chance/) [Game Chance](https://sms4smile.com/quotes/about/game-chance-1726911/) [Games](https://sms4smile.com/quotes/about/games/) [Investing](https://sms4smile.com/quotes/about/investing/) [Knows](https://sms4smile.com/quotes/about/knows/) [Pickers](https://sms4smile.com/quotes/about/pickers-2168264/) [Pickers Know](https://sms4smile.com/quotes/about/pickers-know-2168262/) [Researchers](https://sms4smile.com/quotes/about/researchers/) [Researchers Nearly](https://sms4smile.com/quotes/about/researchers-nearly-2168263/) [Science](https://sms4smile.com/quotes/about/science/) [Stock Pickers](https://sms4smile.com/quotes/about/stock-pickers-2168261/) ## Related quotes > [Early in my career, we were just pure bottoms-up stock pickers.](https://sms4smile.com/quotes/whitney-tilson/early-in-my-career-we-were-just-pure-bottoms-up-stock-pickers/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [Although professionals are able to extract a considerable amount of wealth from amateurs, few stock pickers, if any, have the skill needed to beat…](https://sms4smile.com/quotes/daniel-kahneman/although-professionals-are-able-to-extract-a-considerable-amount-of/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [You should expect little or nothing from Wall Street stock pickers who hope to be more accurate than the market in predicting the future…](https://sms4smile.com/quotes/daniel-kahneman/you-should-expect-little-or-nothing-from-wall-street-stock-pickers/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [I love Jimmy Bryant, and I love Albert Lee. Roy Clark. Chet Atkins. I love those pickers.](https://sms4smile.com/quotes/john-5/i-love-jimmy-bryant-and-i-love-albert-lee-roy-clark-chet-atkins-i/) [John 5](https://sms4smile.com/quotes/author/john-5/) > [As a matter of fact, we put it down because we wanted to be jazz pickers.](https://sms4smile.com/quotes/charlie-rich/as-a-matter-of-fact-we-put-it-down-because-we-wanted-to-be-jazz/) [Charlie Rich](https://sms4smile.com/quotes/author/charlie-rich/) > [Ray Cummins is my good friend and one of the best finger pickers around.](https://sms4smile.com/quotes/chet-atkins/ray-cummins-is-my-good-friend-and-one-of-the-best-finger-pickers/) [Chet Atkins](https://sms4smile.com/quotes/author/chet-atkins/) > [I’d compare stock pickers to astrologers but I don’t want to bad mouth astrologers.](https://sms4smile.com/quotes/eugene-fama/i-d-compare-stock-pickers-to-astrologers-but-i-don-t-want-to-bad/) [Eugene Fama](https://sms4smile.com/quotes/author/eugene-fama/) > [Some of the very best private equity people, in my experience, are people who start out as stock pickers - people who really understood…](https://sms4smile.com/quotes/david-bonderman/some-of-the-very-best-private-equity-people-in-my-experience-are/) [David Bonderman](https://sms4smile.com/quotes/author/david-bonderman/) > [I play knowing that there is somebody watching me out there in the crowd that has never had the opportunity to watch a game…](https://sms4smile.com/quotes/tyson-chandler/i-play-knowing-that-there-is-somebody-watching-me-out-there-in-the/) [Tyson Chandler](https://sms4smile.com/quotes/author/tyson-chandler/) > [I was disappointed if I didn't have a chance to win a game, and if I had the chance and didn't do it.](https://sms4smile.com/quotes/jerry-west/i-was-disappointed-if-i-didn-t-have-a-chance-to-win-a-game-and-if-i/) [Jerry West](https://sms4smile.com/quotes/author/jerry-west/) > [I might go 0 for 4 in a game, but I still had a chance to help the team by making plays in the field.](https://sms4smile.com/quotes/ken-griffey-jr/i-might-go-0-for-4-in-a-game-but-i-still-had-a-chance-to-help-the/) [Ken Griffey Jr](https://sms4smile.com/quotes/author/ken-griffey-jr/) > [I play knowing that there is somebody watching me out there in the crowd that has never had the opportunity to watch a game…](https://sms4smile.com/quotes/tyson-chandler/i-play-knowing-that-there-is-somebody-watching-me-out-there-in-the-2/) [Tyson Chandler](https://sms4smile.com/quotes/author/tyson-chandler/) > [My life experience has taught me nothing happens by chance. Even the idea of the ball in a roulette game: it's not chance it…](https://sms4smile.com/quotes/andrea-bocelli/my-life-experience-has-taught-me-nothing-happens-by-chance-even-the/) [Andrea Bocelli](https://sms4smile.com/quotes/author/andrea-bocelli/) > [“That is what every successful person loves: the game. The chance for self-expression. The chance to prove his or her worth, to excel, to…](https://sms4smile.com/quotes/dale-carnegie/that-is-what-every-successful-person-loves-the-game-the-chance-for/) [Dale Carnegie](https://sms4smile.com/quotes/author/dale-carnegie/) > [Every game you have the chance to be the best on the court.](https://sms4smile.com/quotes/aaron-gordon/every-game-you-have-the-chance-to-be-the-best-on-the-court/) [Aaron Gordon](https://sms4smile.com/quotes/author/aaron-gordon/) ## More by Daniel Kahneman > [Economists think about what people ought to do. Psychologists watch what they actually do.](https://sms4smile.com/quotes/daniel-kahneman/economists-think-about-what-people-ought-to-do-psychologists-watch/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“Belief in the Law of Small Numbers.”](https://sms4smile.com/quotes/daniel-kahneman/belief-in-the-law-of-small-numbers/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“People who are poor think like traders, but the dynamics are quite different. Unlike traders, the poor are not indifferent to the differences between…](https://sms4smile.com/quotes/daniel-kahneman/people-who-are-poor-think-like-traders-but-the-dynamics-are-quite/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“Mood evidently affects the operation of System 1: when we are uncomfortable and unhappy, we lose touch with our intuition.”](https://sms4smile.com/quotes/daniel-kahneman/mood-evidently-affects-the-operation-of-system-1-when-we-are/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even…](https://sms4smile.com/quotes/daniel-kahneman/the-confidence-that-individuals-have-in-their-beliefs-depends-mostly/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“So this is my aim for watercooler conversations: improve the ability to identify and understand errors of judgment and choice, in others and eventually…](https://sms4smile.com/quotes/daniel-kahneman/so-this-is-my-aim-for-watercooler-conversations-improve-the-ability/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“For example, I recently came to doubt my long-held impression that adultery is more common among politicians than among physicians or lawyers.”](https://sms4smile.com/quotes/daniel-kahneman/for-example-i-recently-came-to-doubt-my-long-held-impression-that/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [Survival prospects are poor for an animal that is not suspicious of novelty.](https://sms4smile.com/quotes/daniel-kahneman/survival-prospects-are-poor-for-an-animal-that-is-not-suspicious-of/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“the idea of money primes individualism: a reluctance to be involved with others, to depend on others, or to accept demands from others.”](https://sms4smile.com/quotes/daniel-kahneman/the-idea-of-money-primes-individualism-a-reluctance-to-be-involved/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [Most of the moments of our life - and I calculated, you know, the psychological present is said to be about three seconds long;…](https://sms4smile.com/quotes/daniel-kahneman/most-of-the-moments-of-our-life-and-i-calculated-you-know-the/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“knowing little makes it easier to fit everything you know into a coherent pattern.”](https://sms4smile.com/quotes/daniel-kahneman/knowing-little-makes-it-easier-to-fit-everything-you-know-into-a/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [Experts don't know exactly where the boundaries of their expertise are.](https://sms4smile.com/quotes/daniel-kahneman/experts-don-t-know-exactly-where-the-boundaries-of-their-expertise-are/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [All of us would be better investors if we just made fewer decisions.](https://sms4smile.com/quotes/daniel-kahneman/all-of-us-would-be-better-investors-if-we-just-made-fewer-decisions/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“The best we can do is a compromise: learn to recognize situations in which mistakes are likely and try harder to avoid significant mistakes…](https://sms4smile.com/quotes/daniel-kahneman/the-best-we-can-do-is-a-compromise-learn-to-recognize-situations-in/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) > [“A happy mood loosens the control of System 2 over performance: when in a good mood, people become more intuitive and more creative but…](https://sms4smile.com/quotes/daniel-kahneman/a-happy-mood-loosens-the-control-of-system-2-over-performance-when-in/) [Daniel Kahneman](https://sms4smile.com/quotes/author/daniel-kahneman/) [Explore all 560 Daniel Kahneman quotes ](https://sms4smile.com/quotes/author/daniel-kahneman/) ## More Agreement quotes > [Therefore, I see whatever exists as good, death is to me like life, sin like holiness, wisdom like foolishness, everything has to be as…](https://sms4smile.com/quotes/hermann-hesse/therefore-i-see-whatever-exists-as-good-death-is-to-me-like-life-sin/) [Hermann Hesse](https://sms4smile.com/quotes/author/hermann-hesse/) > [There's no way to have a peace agreement unless the mediator or negotiator looks at both sides from an equal basis.](https://sms4smile.com/quotes/jimmy-carter/there-s-no-way-to-have-a-peace-agreement-unless-the-mediator-or/) [Jimmy Carter](https://sms4smile.com/quotes/author/jimmy-carter/) > [Biochemists and biologists who adhere blindly to the Darwinism theory search for results that will be in agreement with their theories and consequently orient…](https://sms4smile.com/quotes/pierre-paul-grasse/biochemists-and-biologists-who-adhere-blindly-to-the-darwinism-theory/) [Pierre-Paul Grasse](https://sms4smile.com/quotes/author/pierre-paul-grasse/) > [In coming to that agreement, my party had a clear philosophy throughout. In Northern Ireland, we should have institutions that respected the differences of…](https://sms4smile.com/quotes/john-hume/in-coming-to-that-agreement-my-party-had-a-clear-philosophy/) [John Hume](https://sms4smile.com/quotes/author/john-hume/) > [Identity is not negotiable. An identity you have achieved by agreement is always a prison.](https://sms4smile.com/quotes/m-john-harrison/identity-is-not-negotiable-an-identity-you-have-achieved-by-agreement/) [M. John Harrison](https://sms4smile.com/quotes/author/m-john-harrison/) > [I am formally accountable to the steering board of the PIC, and I meet with nine ambassadors from the PIC every week. I have…](https://sms4smile.com/quotes/paddy-ashdown/i-am-formally-accountable-to-the-steering-board-of-the-pic-and-i-meet/) [Paddy Ashdown](https://sms4smile.com/quotes/author/paddy-ashdown/) > [Because countries often have differing political and economic systems, agreements are needed to protect those invested in trade.](https://sms4smile.com/quotes/david-suzuki/because-countries-often-have-differing-political-and-economic-systems/) [David Suzuki](https://sms4smile.com/quotes/author/david-suzuki/) > [As long as I sit at Henry Clay's desk, I will remember his lifelong desire to forge agreement, but I will also keep close…](https://sms4smile.com/quotes/rand-paul/as-long-as-i-sit-at-henry-clay-s-desk-i-will-remember-his-lifelong/) [Rand Paul](https://sms4smile.com/quotes/author/rand-paul/) > [Gaia's main problems are not industrialization, ozone depletion, overpopulation, or resource depletion. 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