This is a summary of 'The Psychology of Human Misjudgment', a speech given by Charlie Munger. Background: This speech was originally delivered by Charlie Munger to an audience at Harvard University in 1995. Learning the cognitive biases that Charlie Munger describes in his speech about “The Psychology of Human Misjudgment” is one of the best investments you can make.
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SUMMARY OF THE 25 COGNITIVE BIASES IN THE PSYCHOLOGY OF HUMAN MISJUDGMENT - BY CHARLIE MUNGER:
00:00 Intro
0:36 Reward and Punishment Super-Response
1:24 Like/Loving Tendency
2:11 Dislike/Hating Tendency
2:40 Doubt-Avoidance Tendency
3:03 Inconsistency-Avoidance Tendency
3:30 Curiosity Tendency
4:00 Kantian Fairness Tendency
4:38 Envy/Jealousy Tendency
4:57 Reciprocation Tendency
5:15 Influence-From-Mere-Association-Tendency
6:00 Simple, Pain Avoiding Psychological Denial
6:22 Excessive Self-Regard Tendency
7:00 Overoptimism Tendency
7:16 Deprival-Superreaction Tendency
7:35 Social-Proof Tendency
7:51 Contrast-Misreaction Tendency
8:10 Stress-Influence Tendency
8:33 Availability-Misweighing Tendency
8:57 Use-It-Or-Lose-It Tendency
9:13 Drug-Misinfluence Tendency
9:26 Senescence-Misinfluence Tendency
9:42 Authority-Misinfluence Tendency
10:06 Twaddle Tendency
10:25 Reason-Respecting Tendency
10:58 Lollapalooza Tendency
11:23 Conclusion
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