lottery - Joshua Kennon

February 8, 2012

The Psychology of Human Misjudgment by Charlie Munger

November 24, 2008 By Joshua Kennon 2 Comments

Charles Munger, Vice Chairman of Berkshire Hathaway

By Charlie Munger (Warren Buffett’s partner at Berkshire Hathaway) Speech at Harvard Law School (1995) Transcription of The Psychology of Human Misjudgment, comments [in brackets] by Whitney Tilson. Note from Joshua Kennon: I've written a lot about Charlie Munger over the years, especially the influence he has had on my life and how we run my companies by using our own mental models. This is one of the best speeches Munger ever gave ... which may be why my family owns about a dozen … [Read more...]

Filed Under: Psychology Tagged With: Berkshire Hathaway, Charlie Munger, Coca-Cola, Economics, failure, gambling, incentive, lottery, math, mental models, morality, oil, Pepsi, probabilities, Psychology, Real Estate, tea, worldy wisdom

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