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The Psychology of Human Misjudgement - Charlie Munger Full Speech

BuffettMungerWisdom · talk · Watch on YouTube

Psychology & human behaviorInvesting & personal financeMicroeconomics & behavioral economics

What it is

Audio of Charlie Munger's 1995 Harvard speech on the psychology of human misjudgment, laying out a framework of cognitive biases and mental models for decision making. It covers factors like incentives, social proof and denial.

Why Hacker News recommends it

HN regards it as a classic to revisit every few years for improving decisions and self-awareness.

  • 6 people recommended it
  • 6 different months
  • 4 strong recommendations
  • first 2014, last 2023

What HN commenters said

  1. “One of my favourite speeches touching on the subject”

    Munger speech on biases, including auctions at 59:30

    rasz_pl, 2016-06 · Strong recommendation · in “Johann Wolfgang von Goethe, Amateur Auction Theorist”

  2. “I revisit this material every couple years.”

    Munger delivering the misjudgment speech

    eigenvalue, 2016-07 · Strong recommendation · in “The Psychology of Human Misjudgment (2005) [pdf]”

  3. “Develop an intuitive understanding of the key mental models mentioned by Charlie Munger in his classic speech”

    Munger's classic speech on key mental models

    cs702, 2020-08 · Strong recommendation · in “Ask HN: What are some available force multipliers that most people don't know?”

  4. “I listen to his lecture on”

    Lecture worth revisiting every few years

    cainxinth, 2023-11 · Strong recommendation · in “Charlie Munger has died”

  5. “There is a talk by Charlie Munger (of Berkshire Hathaway fame) about decision making.”

    Munger on common mistakes in decision making

    timrosenblatt, 2014-09 · Recommendation · in “Ask HN: Practical formula for being relentlessly resourceful?”

  6. “enlightening”

    Helps become more self-aware and change behavior

    melling, 2018-05 · Recommendation · in “Scientists think the cell nucleolus may play an important role in aging”

Excerpts from Hacker News comments, linked to the originals. Summaries and labels were written by a language model from those comments.

Topics: charlie munger, mental models, cognitive bias, psychology, investing

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