Full text of speech the psychology of human misjudgement by. Access a free summary of on the psychology of human misjudgment, by charles munger and 20,000 other business, leadership and nonfiction books on getabstract. Jul 25, 2016 this is a collection of mental models charlie uses to explain human behavior. Munger preface when i read transcripts of my psychology talks given about fifteen years ago, i realized that i could now cre ate a more logical but much longer talk, including most of what i had earlier said. Psychology of human misjudgment bias arises from the nonmathematical nature of the human brain in its natural state as it deals with probabilities employing crude heuristics, and is. Jun 24, 2017 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. The psychology of human misjudgement charlie munger full speech.
Jul 25, 2010 the psychology of human misjudgment by charles t. Audio of the often referred to speech by charlie munger on the psychology of human misjudgement given to an audience at harvard university circa jun 1995. Charlie mungers the psychology of human misjudgement animated version. Charlie munger on the psychology of human misjudgment mill. 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. Charlie munger gave a speech called the psychology of human misjudgment in which he explained how investors should use mental models to counter cognitive bias and other psychological shortcomings in the human brain. It was about how he built his own curriculum for psychology. Charlie munger on the psychology of human misjudgment. Check out the psychology of human misjudgement by charlie munger on amazon music. The psychology of human misjudgment free gifts about the 25 cognitive biases get a free pdf download checklist of the 25 cognitive biases and a special video interview with tai lopez, expert on the subject matter.
When one sperm gets in, it shuts down so the next one cant get in. 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 mungers 25 cognitive biases speech summary ignore. Three great books to read one thought on charlie mungers the psychology of human misjudgement animated version pingback. Psychology professors love socialproof tendency because in their experiments it causes ridiculous results. 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.
Mungers psychology of human misjudgment feld thoughts. The psychology of human misjudgment economists assume that people are rational in the sense that they use all available information as they take actions intended to achieve their goals. Along with commentary and recommended resources on the psychology of human misjudgement. But behavioral economists dont agree with the view of standard economics. The psychology of human misjudgment charlie munger. In this speech at harvard, know as the psychology of human misjudgment, charlie. 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 misjudgement andrew wilkinson. A summary of the psychology of human misjudgment by charles. A site dedicated to the psychology of human misjudgement. The psychology of human misjudgement andrew wilkinson medium. Jun 29, 2017 its called the psychology of human misjudgement and its about the many ways that we fool ourselves into making horrible decisions in business, investing, and life.
Mar 31, 2017 charlie mungers speech titled the psychology of human misjudgment will equip you with the knowledge of the 25 cognitive biases that are constantly skewing and altering our decisionmaking and actions whether we realize it or not. Save it to your charlie enumerated twentyfive human tendencies to misjudgment. The psychology of human misjudgment free gifts about the 25 cognitive biases get a free pdf download checklist of the 25 cognitive biases and a special video. The psychology of human misjudgment by charlie munger medium. Understanding and predicting human behaviour has been of particular interest to researchers for many years.
Charlie munger is the author of this fantastic framework, this page highlights the video that features the first speech munger gave on this subject. During a talk at harvard in 1995 entitled the psychology of human misjudgment, munger mentions tupperware parties and open outcry auctions, where he explained three, four, five of these things work together and it turns human brains into mush, meaning that normal people will be highly likely to succumb to the multiple irrational tendencies. The psychology of human misjudgment 2005 pdf hacker news. Charlie munger is the vice chairman of berkshire hathaway. Mungers an adherent of a particular value system common among businessmen from the mid19th late20th century. There is not much point in rewriting what charlie says in different words, but perhaps i can find more recent examples that are informative andor amusing. The post above is drafted by the collaboration of the valuewalk team. I am very interested in the subject of human misjudgment, and lord knows ive created a good bit of it. In this speech at harvard, know as the psychology of human misjudgment, charlie discusses his 24 rules.
Charlie munger gave a speech to harvard university in 1995. If you have never listened to this brilliant presentation or read any of its many transcriptions, there is a mindblowing experience in store for you. Jan 14, 20 full text of speech the psychology of human misjudgement by charlie munger thank you for watching the youtube video on the psychology of human misjudgement, you will find the full text of the transcript for that video here. Mar 16, 2017 check out the psychology of human misjudgement by charlie munger on amazon music.
Get the entire part series on charlie munger in pdf. Sep 23, 2017 in 1995, charlie munger gave a speech about how the human mind tricks itself into making poor decisions. The human mind is a lot like the human egg, and the human egg has a shutoff device. Charlie mungers the psychology of human misjudgement animated version brian langis. Everybody knows about warren buffett, but few people outside of the investing world know about his business partner, charlie munger. Full text of speech the psychology of human misjudgement by charlie munger thank you for watching the youtube video on the psychology of human misjudgement, you will find the full text of the transcript for that video here. The psychology of human misjudgement by charlie munger on. Billionaire charlie munger gave a very famous speech at harvard university titled the psychology of human misjudgment. A speech and qvesvesa with billionaire charlie munger.
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 to carry around than the book. Charlie munger on the psychology of human misjudgment speech at harvard university estimated date. The essay in poor charlies almanack is his most recent and comprehensive version of what he calls the psychology of human misjudgment. The psychology of human misjudgment essay 25096 words. The speech is titled, the psychology of human misjudgment. Jul 03, 2017 one thought on charlie mungers the psychology of human misjudgement animated version pingback. A summary of the psychology of human misjudgment by charles munger published on april 14, 2016 april 14, 2016 21 likes 4 comments. Its well worth a quiet 15 minutes of your day to sit and watch it. I spent the weekend stewing on a few things, including why human beings do what they do. In this speech at harvard, know as the psychology of human misjudgment, charlie discusses his 24 rules for avoiding human misjudgement. Jan, 20 audio of the often referred to speech by charlie munger on the psychology of human misjudgement given to an audience at harvard university circa jun 1995. On the psychology of human misjudgment free summary by.
So he lovingly broadened and mungerr his lecture into a published paper. By whitney tilson published on the motley fool web site, 82102. Charlie munger on the psychology of human misjudgment part 2. Whitney tilson summarizes some key points and provides a link to the speech, so you can read for yourself. Charlie mungers the psychology of human misjudgement. Charlie munger the psychology of human misjudgment hacker. This is a transcript of the psychology of human misjudgment. Moreover, the assumption that knowledge of attitudes will help in the task of predicting. Underrecognition of reinforcement psychology or incentives economics 2.
Charlie munger gave an insightful speech on 24 standard causes of human misjudgment, which has powerful implications for investors. When i read transcripts of my psychology talks given about fifteen years ago. Its called the psychology of human misjudgement and its about the many ways that we fool ourselves into making horrible decisions in business, investing, and life. A summary of the psychology of human misjudgment by. Charlie munger the psychology of human misjudgement youtube. Charlie mungers the psychology of human misjudgment. 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. This is a collection of mental models charlie uses to explain human behavior. Charlie munger the psychology of human misjudgment. In this value system, 1 the primary purpose of economic activity is efficiency, producing more with less 2 the purpose of employees is to serve as instruments for their employers to accomplish their business goals and 3 anything that gets in the way of this is by definition. Jun 02, 2014 charlie mungers standard causes of human misjudgement is truly great stuff, and something i wish everyone had the privilege to get in touch with. Nov 23, check out the psychology of human misjudgement by charlie munger on amazon music. Munger selections from three of charlie mungers talks, combined into one talk never made, after revisions by charlie in 2005 that included considerable new material. Hes an ace investor dealing with psychology everyday to make money in the market.
Dec 17, 2015 25 cognitive biases the psychology of human misjudgment shared by. The psychology of human misjudgement charlie munger book. Jan 03, 2017 charlie munger is the vice chairman of berkshire hathaway. The reason why people get it wrong is because they jump to conclusionsusing the re. However, this curriculum is not just about investing. Oct 22, 2017 psychology professors love socialproof tendency because in their experiments it causes ridiculous results. The human mind has a big tendency of the same sort. The best way that ive found to absord the speech is to listen to what charlies saying and read the transcript at the same time, but thats just me.
Well i havent been able to find the actual audio of the presentation until a listener of the show recently sent it to me. The psychology of human misjudgment a survey of one. The psychology of human misjudgement charlie munger full. The psychology of human misjudgment by charlie munger. Charlie munger on the psychology of human misjudgment resources berkshire hathaways charlie mungers speech at harvard university circa june 1995 about the framework for decision making and the factors contributing to human misjudgments. Charlie munger on the psychology of human misjudgment part 2, stocks. He gave three talks that were combined into this talk at harvard university on 25 different biases that are the root of most poor. The psychology of human misjudgment, by charlie munger. It was basically behavioral psychology before the field exploded. This speech was originally delivered by charlie munger to an audience at harvard university in 1995.
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