Charlie Munger's Psychology of Human Misjudgment

Alex & Books 

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Or if you want a free resource to learn more about Munger, here's an excellently summarized and animated video of his famous "The Psychology of Human Misjudgment" speech:

https://x.com/AlexAndBooks_/status/1729625308276404619?s=20

https://www.sloww.co/psychology-human-misjudgment-charlie-munger/

This post is a summary of all 25 psychological tendencies from the revised and updated version of The Psychology of Human Misjudgment that’s included in the book. Charlie Munger says:

• “The tendencies are probably much more good than bad. Otherwise, they wouldn’t be there, working pretty well for man, given his condition and his limited brain capacity. So the tendencies can’t be simply washed out automatically, and shouldn’t be. Nevertheless, the psychological thought system described, when properly understood and used, enables the spread of wisdom and good conduct and facilitates the avoidance of disaster. Tendency is not always destiny, and knowing the tendencies and their antidotes can often help prevent trouble that would otherwise occur.”

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Quick Housekeeping:

• All quotes in quotation marks are from the original author unless otherwise stated.
• I’ve added emphasis in bold for readability/skimmability.

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Summary Contents: Click a link here to jump to a section below

1. Reward and Punishment Superresponse Tendency
2. Liking/Loving Tendency
3. Disliking/Hating Tendency
4. Doubt-Avoidance Tendency
5. Inconsistency-Avoidance Tendency
6. Curiosity Tendency
7. Kantian Fairness Tendency
8. Envy/Jealousy Tendency
9. Reciprocation Tendency
10. Influence-from-Mere-Association Tendency
11. Simple, Pain-Avoiding Psychological Denial
12. Excessive Self-Regard Tendency
13. Overoptimism Tendency
14. Deprival-Superreaction Tendency
15. Social-Proof Tendency
16. Contrast-Misreaction Tendency
17. Stress-Influence Tendency
18. Availability-Misweighing Tendency
19. Use-It-or-Lose-It Tendency
20. Drug-Misinfluence Tendency
21. Senescence-Misinfluence Tendency
22. Authority-Misinfluence Tendency
23. Twaddle Tendency
24. Reason-Respecting Tendency
25. Lollapalooza Tendency