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…
DetailsOptimism bias, sometimes referred to as unrealistic bias or comparative optimism, is a particularly powerful mental model because it causes a person to believe he or she is less likely to experience a negative event than members of the general population with statistically identical risk factors.
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