The Psychology of Human Misjudgment | 25 Cognitive Biases | Charlie Munger x Harvard University


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The Psychology of Human Misjudgment by Charlie Munger; also known as Munger’s 25 cognitive bias speech.

Charlie Munger, the billionaire investor and friend of Warren Buffett gave this to talk to high level MBA programs and value investors to improve their decision making in investing. However, this information is highly applicable for general personal use, educators, etc.

25 Causes of Cognitive Bias:

1. Reward and Punishment Tendency (2:30)
2. Simple, Pain-Avoiding Psychological Denial (5:45)
3. Disliking/Hating Tendency (6:34)
4. Doubt Avoidance Tendency (9:55)
5. Influence-from-Mere Association Tendency (12:07)
6. Reciprocation Tendency (19:27)
7. Social-Proof Tendency (22:40)
8. Inconsistency Avoidance Tendency (26:00)
9. Contrast-Misreaction Tendency (26:23)
10. Authority-Misinfluence Tendency (29:51)
11. Deprival Superreaction Tendency (31:27)
12. Envy/Jealousy Tendency (34:37)
13. Drug-Misinfluence Tendency (35:28)
14. Mis-gambling Compulsion (35:51)
15. Liking/Loving Tendency and Disliking/Hating Tendency (38:13)
16. Availability-Misweighing Tendency (41:52)
17. Stress-Influence Tendency (49:23)
18. Reason-Respecting Tendency (50:25)
19. Use-It-or-Lose-It Tendency (52:47)
20. Stress-Influence Tendency (52:55)
21. Senescence-Misinfluence Tendency (53:58)
22. Twaddle Tendency (54:04)
23. Lollapalooza Tendency — Confluences of Psychological Tendencies Acting in Favor of a Particular Outcome (55:13)
24. Benefits of this Psychological Thought System (1:00:50)
25. Special Knowledge Problems Lie Buried in the Thought System (1:07:08)

Description a variation from Buffetology

EXTRA: Did you notice misjudgment was spelled wrong in the video? haha
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CJ

2 Comments

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  1. I cannot find the author mentioned 19:39 Seal Dany ? Seel Dany ? seele Dany ?
    I'd like to know more about the book mentioned yet no title was spoken and a name is very easily misheard .
    some help please ? :).