A short presentation on the nature of human judgment and decision making. The presentation introduces the idea of the human mind functioning at three speeds Mind1 (slow rational), Mind 2 (accelerating non-rational) and Mind 3 (automatic unconscious). The presentation seeks to show that humans tend to most often function in automatic or in a fast and frugal state. We need to develop competence in many of activity so we can act 'without thinking'. This is where efficiency is developed, such as driving a car or getting ready for work. The fact that we get faster and faster at tasks with which we are familiar is a natural development of functioning efficiently. It is also the source of mismanagement of risk. Most of the time humans work well and safely in Mind 3 and Mind 2. It is only on the odd occasion when things go wrong that we slow down to understand why something went wrong. Learning to function between these three minds is the key to understanding and managing risk.