Everybody knows about warren buffett, but few people outside of the investing world know about his business partner, charlie munger. Charlie munger has spent a lifetime attempting to avoid stupid mistakes. Heres a list of books charlie recommends you read to gain insight into the munger system. Nov 23, check out the psychology of human misjudgement by charlie munger on amazon music.
Pdf of peter bevelin interviews 2007 and 2009 with value investing world. I have set up a bookmarks system in the pdf file to ease your navigation, which you can access by clicking view, navigation panels, bookmarks. Munger says this should be obvious but so many people dont understand the how important incentives are for shaping peoples motivation to complete a task. The psychology of human misjudgement andrew wilkinson.
Hes given a number of speeches on his experience over the years, that he ultimately compiled into one called. Audio of the often referred to speech by charlie munger on the psychology of human misjudgement given to an audience at harvard university. Charlie munger and the psychology of human misjudgment, continued this series covers each of the 25 tendencies munger addresses in his book poor charlies almanack. Munger preface when i read transcripts of my psychology talks given about fifteen years ago, i realized that i could now create a more logical but much longer talk, including most of what i had earlier said. Charlie munger and the psychology of human misjudgment. Charlie munger on the psychology of human misjudgment. A summary of the psychology of human misjudgment by.
The psychology of human misjudgement charlie munger full. I am very interested in the subject of human misjudgment, and lord knows ive created a good bit of it. The psychology of human misjudgement notes and marginalia on the power of mental models, written after re. It was about how he built his own curriculum for psychology.
When one sperm gets in, it shuts down so the next one cant get in. Charlie mungers the psychology of human misjudgment warren buffett. Get the entire 10part series on charlie munger in pdf. Hes an ace investor dealing with psychology everyday to make money in the market. Charlie munger 25 cognitive biases flashcards quizlet. He gave three talks that were combined into this talk at harvard university on. Well i havent been able to find the actual audio of the presentation until a listener of the show recently sent it. Audio of the often referred to speech by charlie munger on the psychology. Billionaire charlie munger gave a very famous speech at harvard university titled the psychology of human misjudgment. Charlie munger is the vice chairman of berkshire hathaway.
Munger is a major benefactor of the university of michigan. In this speech at harvard, know as the psychology of human misjudgment, charlie discusses his 24 rules. The psychology of human misjudgement by charlie munger on. Along with commentary and recommended resources on the psychology of human misjudgement. Reviewing mungers the psychology of human misjudgment. It seems that outside of the requisite financial analysis, investors are often faced with two other keys to success. The psychology of human misjudgment by charlie munger. Charlie mungers tendencies of human misjudgment novel. This speech was originally delivered by charlie munger to an audience at harvard university in 1995.
The human mind has a big tendency of the same sort. Charlie munger is warren buffetts right hand man at berkshire hathaway nyse. Charlie munger on the psychology of human misjudgment speech at harvard university estimated date. B,xom, warren buffett, charlie munger, release date. Berkshire hathaways charlie munger gave a speech at harvard university back in the 1990s on the topic of the psychology of human misjudgment. A were summarizing the text he authored titled the psychology of human misjudgement, where he describes some. This is the transcript of one of the speeches given by berkshire hathwayss very own, charlie munger at harvard law school, 1995, a truly brilliant investor and an intelligent man. Charlie munger on the psychology of human misjudgment mill. This is a rare gem and you need to spend a lot of time reading, rereading, and reflecting on it. Charlie munger time and time again, in reality, psychological. Notes and marginalia on the power of mental models, written after reflection on charlie. Munger, then revised to make mungers use easy as he seeks to avoid.
Those familiar with the work of daniel kahneman for example wont find too much new here, but nonetheless it is a good quick introduction to the topic. Charlie munger is the author of this fantastic framework, this page highlights the video that features the first speech munger gave on this subject. Were summarizing the text he authored titled the psychology of human misjudgement, where he describes some of mans. The power that incentives and disincentives have on the actions of others cannot be overstated. The psychology of human misjudgment by charlie munger charlie munger. Save it to your charlie enumerated twentyfive human tendencies to misjudgment. The psychology of human misjudgment by charlie munger medium.
Combining ideas from philosophy, psychology, economics, finance, and even chaos theoryrationality is charlie s highest virtue. Munger says this should be obvious but so many people dont understand the how important incentives are for. Charlie munger gave this speech at harvard law school in june 1995. Cook legal research building, including the noted reading room. Munger noticed patterns of irrational behavior that led to repeated mistakes, so he set out to finds ways to understand psychology in order to avoid the mistakes himself. Munger is referring to is called on teaching professional judgment by paul brest and linda krieger. In this speech at harvard, know as the psychology of human misjudgment, charlie discusses his 24. Charlie mungers the psychology of human misjudgment. Full text of speech the psychology of human misjudgement. Will we be able to get a copy of that list of 24 standard causes of human misjudgment. Charles thomas munger born january 1, 1924 is an american investor, businessman, former real estate attorney, and philanthropist.
Charlie munger the psychology of human misjudgement youtube. We have provided both the original audio file as well as a pdf transcription created by t2 partners. According to charlie munger, a newly arrived human is born to like and love, and the strongest inborn tendency to love is that of a mother for its. The human mind is a lot like the human egg, and the human egg has a shutoff device. The abridged and animated video of mungers the psychology of human misjudgment speech that has been making the rounds led me to go back and reread the version munger rewrote in 2005 for inclusion in poor charlies almanack. Charlie munger is warren buffetts right hand man at berkshire hathaway. Charlie munger gave an insightful speech on 24 standard causes of human. Save it to your desktop, read it on your tablet, or email to. The audio file below contains the often referred to speech by charlie munger on the psychology of human misjudgment given to an audience at harvard university back in 1995. Check out the psychology of human misjudgement by charlie munger on amazon music. T2 partners whitney tilson was kind enough to transcribe it and weve posted up below. Charlie munger on human misjudgement a wealth of common.
Get the entire part series on charlie munger in pdf. The psychology of human misjudgement charlie munger full speech audio found via valuewalk. The psychology of human misjudgment 2005 pdf hacker news. These are notes of a lecture munger gave on the psychology of human misjudgement, in which he talks about how psychology impacts decisionmaking, especially in the context of finance. The psychology of human misjudgment, by charlie munger. Bias 1 reward and punishment superresponse tendency. The psychology of human misjudgement charlie munger full speech. Charlie munger source charlie munger gave a speech to harvard university in 1995. The copy i continuously go back to is from a word file that i created in order to put the speech on my kindle, which is a lot easier. A summary of the psychology of human misjudgment by charles munger published on april 14, 2016 april 14, 2016 21 likes 4 comments.
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