Charlie munger is the vice chairman of berkshire hathaway. Jul 03, 2017 one thought on charlie mungers the psychology of human misjudgement animated version pingback. 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 child. In all his talks, he shows wit, rationality, and incredible clarity of thought. In this speech at harvard, know as the psychology of human misjudgment, charlie discusses his 24 rules for avoiding human misjudgement. Although they are longtime friends and partners, munger is hardly a carbon copy of buffett.
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. Audio of the often referred to speech by charlie munger on the psychology. 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. He gave three separate talks ranging from about 20 to 23 years ago. Charlie mungers the psychology of human misjudgement animated version brian langis. Charlie munger on the psychology of human misjudgment speech at harvard university estimated date. Berkshire hathaways charlie munger gave a speech at harvard university back in the 1990s on the topic of the psychology of human misjudgment. He is vice chairman of berkshire hathaway, the conglomerate controlled by warren buffett. A great post on metafilter turned me on to twenty four standard causes of human misjudgement, a classic 1995 speech by charlie munger much cited, and transcribed here in pdf, in which munger. You can listen to the speech by clicking on the arrow below, and you can read a copy of the transcript here, the psychology of human misjudgment. Charles thomas munger born january 1, 1924 is an american investor, businessman, former real estate attorney, and philanthropist. Charlie munger and the psychology of human misjudgment the. Download it once and read it on your kindle device, pc, phones or tablets.
Although i am very interested in the subject of human misjudgment and lord knows ive created a good bit of it i dont think ive created my full statistical share, and i think that one of the reasons was i tried to do something about this terrible ignorance i left the harvard law school with. The psychology of human misjudgment by charlie munger. Charlie mungers human misjudgment framework and jc penney. The psychology of human misjudgement charlie munger full. Charlie munger gave an insightful speech on 24 standard causes of human. Life lessons, success, principles and mental models from a titan of finance kindle edition by thorniley, dave. Munger s book, poor charlie s almanack, collects his speeches and musings, including his intriguing thoughts on the 25 tendences that. Charlie mungers the psychology of human misjudgement.
Poor charlie s almanack download ebook pdf, epub, tuebl. T2 partners whitney tilson was kind enough to transcribe it and weve posted up below. The psychology of human misjudgment, a speech given in by legendary investor charlie munger, opened my eyes to how behavioral psychology can be applied to business and problemsolving. 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. Poor charlies almanack by charlie munger book summary and pdf. Charlie munger the psychology of human misjudgement by buffettmungerwisdom published on 20121215t16. Munger has adopted an approach to business and life that he refers to asworldly wisdom.
Charlie mungers the psychology of human misjudgement animated version. Click download or read online button to get poor charlie s almanack book now. Jun 02, 2014 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. Get a free pdf download checklist of the 25 cognitive biases and a special video interview with tai lopez, expert on the subject matter. He is vice chairman of berkshire hathaway alongside warren buffett. Charlie munger and the psychology of human misjudgment. Dec 10, 2012 berkshire hathaways charlie munger gave a speech at harvard university back in the 1990s on the topic of the psychology of human misjudgment. 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. When one sperm gets in, it shuts down so the next one cant get in.
Munger is an admirer of benjamin franklin, and the books title is a tribute to franklins poor richards almanack net proceeds from sales of the book go to the munger research center at the huntington library. Will we be able to get a copy of that list of 24 standard causes of human misjudgment. Munger believes that by using a range of different models from many different disciplinespsychology, history, mathematics, physics, philosophy, biology, and so ona person can use the combined output of the synthesis to produce something that has more value than the sum of its parts. 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. 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. Charlie mungers tendencies of human misjudgment novel. 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. Munger preface when i read transcripts of my psychology talks given about. Use features like bookmarks, note taking and highlighting while reading charlie munger. 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.
Charlie munger pdf summary tren griffin 12min blog. But the psychology of human misjudgment is the star of this show. Munger, for those of you who havent heard of him, is the irreverent. He gave three talks that were combined into this talk at harvard university on 25 different biases that are the root of most poor. Munger, vice chairman of berskshire hathaway and partner of warren buffet and his listing of 25 innate human tendencies toward misjudgment that we harbor. Charlie munger on the psychology of human misjudgment. The thoughts and insights from the commencement speeches are witty and interesting, generally pointed toward happiness in life. The psychology of human misjudgement charlie munger book. Mar 02, 20 a collection of munger s speeches was collected by peter d. Hes given a number of speeches on his experience over the years, that he ultimately compiled into one called. Charlie munger is, arguably, the worlds best investor. One thought on charlie mungers the psychology of human misjudgement animated version. Munger served as chairman of wesco financial corporation from 1984 through 2011. Charlie mungers standard causes of human misjudgement is truly great stuff, and something i wish everyone had the privilege to get in touch with.
We have provided both the original audio file as well as a pdf transcription created by t2 partners whitney tilson at the following links. I found a pdf version which, unlike the link above, was not a scanned copy. Because, after all, learning from the success and failure of others is the fastest way to get smarter and wiser without a lot of pain. Charlie munger has spent a lifetime attempting to avoid stupid mistakes. Get the entire 10part series on charlie munger in pdf.
This book is the expanded third edition and is available in hardcover. The tenth talk in this section is a unique version of the psychology of human misjudgment that the author wrote just for this book. Although i am very interested in the subject of human misjudgment and lord knows ive on the transcript. Full text of speech the psychology of human misjudgement. Poor charlie s almanack is a collection of speeches and talks by charlie munger, compiled by peter d. Charlie munger on the psychology of human misjudgment mill. A collection of mungers speeches was collected by peter d. A collection of speeches, essays, and wesco annual meeting notes.
Charlie munger is the longserving vicechairman of berkshire hathaway. This is a collection of mental models charlie uses to explain human. It seems that outside of the requisite financial analysis, investors are often faced with two other keys to success. He is also chairman of the daily journal corporation and a director of costco wholesale corporation references. We have provided both the original audio file as well as a pdf transcription created by. From the foreword to poor charlie s almanack for the first time ever, the wit and wisdom of charlie munger is available in a single volume. The psychology of human misjudgement charlie munger full speech.
In his speech, charlie talks about some of the different kinds of human misjudgments that he has encountered through his life. Charlie munger on the psychology of human misjudgment part 2. Were summarizing the text he authored titled the psychology of. He is chairman of wesco financial corporation from 1984 through 2011. In this summary of poor charlies almanack, ive extracted the most important points. I went through each of the 25 tendencies that are defined and discussed by charlie and tried to think about how the tendency could. Poor charlies almanack is a collection of charlie mungers best advice given over 30 years, in the form of 11 speeches given as commencement addresses and roundtable talks. I am very interested in the subject of human misjudgment, and lord knows ive created a good bit of it. Given below is the mind map for one of the misjudgment association. Not only is munger one of the smartest people on the planet his lecture on the psychology of human misjudgment is the best 45 minutes you might spend this year. In part 1 of this topic we learned about charles charlie t. Jul 25, 2016 the psychology of human misjudgment 2005 pdf. From the foreword to poor charlies almanack for the first time ever, the wit and wisdom of charlie munger is available in a single volume. The human mind is a lot like the human egg, and the human egg has a shutoff device.
First published in 2005 isbn 1578643031, it was released in an expanded edition isbn 1578645018 three years later. A lesson on elementary, worldly wisdom as it relates to investment management and business page 36 1998 munger on investment practices of leading charitable foundations page 72 1999 mungers masters class on foundation investing. Munger was published by walsworth publishing company in 2005. Gary king, wikimedia commons almost 20 years ago, berkshire hathaway vicechairman charlie munger gave a talk called the psychology of human misjudgment at harvard. 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 in pdf format here via diana. Munger is referring to is called on teaching professional judgment by paul brest and linda krieger. And tren griffins book, charlie munger summary, is all about him. This speech was originally delivered by charlie munger to an audience at harvard university in 1995. Mungers book, poor charlies almanack, collects his speeches and musings, including his intriguing thoughts on the 25 tendences that. The psychology of human misjudgment charlie munger audio. Bias 2 likingloving tendency we ignore the faults of other people, products or companies that we admire.
The psychology of human misjudgment 2005 pdf hacker news. Save it to your desktop, read it on your tablet, or email to your. Warren buffets partner, charlie munger lectures on human misjudgment at harvard law school, 1995. Charlie munger simple english wikipedia, the free encyclopedia.
The 25 cognitive biases the psychology of human misjudgment. Charles thomas munger born january 1, 1924 is an american investor, businessman and philanthropist. Berkshire hathaways charlie mungers speech at harvard university circa june 1995 about the framework for decision making and the factors contributing to human misjudgments. There are many things that went wrong with ron johnsons turnaround plan and ackmans investment in j. Charlie mungers human misjudgment revisited philip c. This is a collection of mental models charlie uses to explain human behavior. Poor charlies almanack the wit and wisdom of charles t. The psychology of human misjudgement, 1995 talk by charlie. Used a web based pdf to doc converter, fixed some formatting and converted the. Charlie munger the psychology of human misjudgement by. When you get these lollapalooza effects you will almost always find four or five of these things working together. Poor charlie s almanack download ebook pdf, epub, tuebl, mobi. Life lessons, success, principles and mental models from a titan of finance.
Bias 3 dislikinghating tendency 25 cognitive biases. Reviewing mungers the psychology of human misjudgment. The psychology of human misjudgement, 1995 talk by charlie munger. 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.
Charlie munger is warren buffetts right hand man at berkshire hathaway. If you do wish to read the transcript at the same time, start the recording and go down to. Although i am very interested in the subject of human misjudgment and lord knows ive. What you should search for in life is the combination, because the combination is likely to do you in. Jan 03, 2017 charlie munger is the vice chairman of berkshire hathaway. Jan, 20 audio of the often referred to speech by charlie munger on the psychology. Penney provides a prime example of how an investor can apply mungers human misjudgment framework to avoid investing in a doomed transition. 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. This site is like a library, use search box in the widget to get ebook that you want.