Kahneman's final major work distinguishes between bias (systematic error) and noise (random variability in judgments). Noise is at least as damaging as bias in investing, and organizations are largely unaware of how much it distorts decisions. The 'decision hygiene' protocols are immediately implementable. The same analyst, the same data, different days — wildly different conclusions.

The case for it, the case against, and the rest of the canon open with Pro.