The theme of the book is that IQ tests are radically 
 incomplete measures of the nature of human cognitive function.
We found that many of
the classic tasks that common
universities study where people make characteristic 
errors of assessing probabiliies and making decisions
are very, very weakly, 
and in some cases, totally independent of intelligence. 
You don’t get a measure of the domain of
rational thinking by giving an intelligence test.
One of the major practical domains in which this work
plays out is the financial domain and issues of personal finance.
And we all cringe when that is brought up.
People display some of the classic so-called biases. 
 A bias is just a characteristic way of responding that 
I should say at the outset is often good, often works.
But it goes astray when it’s in a particular environment where
we shouldn’t be making quickly biased responses. 
(Like shopping?)
Well, like certain types of shopping.
 A characteristic error that people make is they’ll 
spend more time picking out a pair of shoes than they will
choosing mutual funds in their retirement account. 
They’re not well calibrated, to use a bit of jargon there.
Their cognitive effort is not well calibrated 
to the importance of the task.
