The Psychology of Human Misjudgement – Charlie Munger

Charlie Munger is the vice-chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett.

This is a commencement speech given by Charlie in June of 1995 to the graduating class of Harvard University. 

Key Takeaways

    • Never underestimate the power of incentives
    • Oftentimes, reality is too painful to bear and people distort it simply so they can go on living
    • What people often shout out is exactly what they are pounding into themselves – they form chains around their ideas instead of allowing for new opinions and facts to influence them

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