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The Psychology of Human Misjudgement

4.54  ·  Rating details ·  169 ratings  ·  20 reviews
21 pages
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Sarthak Pranit
Jan 25, 2019 rated it it was amazing
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Andre Piucci
Aug 22, 2019 rated it it was amazing

# 25 Standard Causes of Human Misjudgement #

Reward & Punishment Super-Response Tendency:
Never underestimate the power incentives and disincentives have on motivating people to complete a task.

Liking/Loving Tendency:
People ignore the faults of other people, products or companies that they love, like or admire.

Dislike/ Hating Tendency:
Humans ignore the virtues and views put forth by those things or persons they dislike.

Doubt – Avoidance Tendency:
If unsure about a decision humans will try to re
These are notes of a lecture Munger gave on 'The Psychology of Human Misjudgement', in which he talks about how psychology impacts decision-making, especially in the context of finance. Those familiar (with the work of Daniel Kahneman for example) won't find too much new here, but nonetheless it is a good quick introduction to the topic. That it comes from a prominent investor is perhaps the best part – proof that understanding psychology can have real monetary benefits in investing and trading. ...more
Jan 05, 2020 rated it really liked it
This is actually an hour and a half long speech that has more wisdom per minute than anywhere else! It's a good speech but hard to grasp fully in the first go but overall there's something in it for everyone :) ...more
Eddy Elba
Jul 30, 2016 rated it it was amazing
One of the clearest and most insightful speeches ever given on the psychology of human misjudgement. In one word, Brilliant!
Mar 14, 2021 rated it really liked it
Charlie Munger’s speech turned book summarises the wisdom he wants to pass down generations regarding irrational patterns in human behaviour. He identified 25 psychology-based tendencies in human interactions that tend to explain common human misjudgments.

Charlie was way ahead of his time in identifying these human irrationalities and connecting psychology with business in a visionary speech delivered to Harvard students in 1995. This field has gained extreme prominence today and is widely stud
Carl Sandberg
Jun 23, 2018 rated it it was amazing
Exceptional speech on why people do dumb things.
On one hand, it's a super accessible, phenomenal summary of decades of research in cognitive biases and behavioral finance. On the other hand, it's a witty and hilarious commentary on human nature. Munger (one of the greatest investors of all time) makes the subject sound almost like stand-up comedy. You will learn a lot and laugh at the same time. A must. ...more
Vikrama Dhiman
Aug 09, 2020 rated it it was amazing
Not much to dislike in most of what Charlie Munger writes. This one also has good wit ;-)
Kaustubh Nawade
Jan 21, 2019 rated it it was amazing
Shelves: non-fiction
Clear and insightful. Definitely worth reading.
Apr 25, 2020 rated it it was amazing
đọc xong tự thấy bản thân ngu
Apr 07, 2020 rated it liked it
Shelves: philosophy, economics
Parts were difficult to understand and one will find many overlaps and reiterations. It also warranted reader to know about to certain personalities and associated stories of them.
Mar 19, 2017 rated it it was amazing
Strictly speaking this is not a book or an essay, this is a talk that Chalie Munger gave several times during 90s. I think it is even possible to find an audio on Youtube if you need one. To summarize the talk in a one sentence - it is a well thought attempt to answer the question: Why do people do stupid things no matter how smart they are. If you've ever been baffled by that kind of question that is a good starting point. ...more
Mar 10, 2016 rated it liked it
This isn't really a book. It's better described as a long pamphlet. I love Munger and I like Warren Buffet even better but I didn't learn much more from reading this than I did reading the inside sleeve of "Thinking Fast and Slow". ...more
Esteban Rojas soto
Apr 28, 2016 rated it really liked it
without word!
Gabriel Pinkus
Nov 30, 2015 rated it it was amazing
I've read/listened to this speech many, many times. ...more
Caleb Philbrick
Dec 20, 2015 rated it it was amazing
Shelves: favorites
This thing is golden.
Jun 17, 2015 rated it it was amazing
Insightful topics discussed concisely. You might have to research a few of the topic for a more detailed interpretation but nonetheless a good idea how this great investor and man thinks.
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Charles Thomas Munger is an American business magnate, lawyer, investor, and philanthropist. He is Vice-Chairman of Berkshire Hathaway Corporation, the diversified investment corporation chaired by Warren Buffett; in this capacity, Buffett describes Charlie Munger as "my partner." Munger served as chairman of Wesco Financial Corporation from 1984 through 2011 (Wesco was approximately 80%-owned by ...more

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