The Psychology of Human Misjudgement, 1995 talk by Charlie Munger
March 2, 2013 6:25 AM Subscribe
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) gave an oft referenced talk at Harvard in 1995. Here's the full audio.
Munger titled the speech "Twenty Four Standard Causes of Human Misjudgement".
Warren Buffett calls Charlie Munger his partner. Even before he was Vice Chairman at Berkshire Hathaway, he was known as a canny investor
. Mr. Munger speaks about the framework for decision making, the factors contributing to misjudgements and behavioral economics in a folksy downhome way.
A collection of Munger's speeches was collected by Peter D. Kaufman as Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
. Although they are longtime friends and partners, Munger is hardly a carbon copy of Buffett: Munger is known to be a Republican, whereas Buffett has generally supported Democrats.
Quote:Warren has always been very open about what he’s learned, and I share that ethos. My personal behavior model is Lord Keynes: I wanted to get rich so I could be independent, and so I could do other things like give talks on the intersection of psychology and economics. I didn’t want to turn it into a total obsession.
Speech in pdf
Munger references Influence: The Psychology of Persuasion